Frequently Asked
Questions

Samudaay Kendra

  • How much do I need to invest?

    Approx 1.25 lacs. Here is what is for

    1. The way to get enough customers is branding on the store front and inside so the customer feels reassured. We estimate this will cost Rs.40,000 – of course depends on your store.
    2. The Samudaay device + printer + CCTV will cost another Rs. 45,000.
    3. Rs.45,000 is a refundable deposit since we are transacting money.

    Naturally, the number of devices required and deposit will grow as your busines grows.

  • How much return on Investment I can expect?

    You get a fee per transaction for each successful delivery, cash deposit and withdrawal. You get a percentage of counter shipment booking, insurance etc. Of course, this depends on your efforts and service level but we believe you can get back your 80,000 investment within 12 months depending on location.

  • Are there any risks involved?

    Kiosk Banking is approved by the Bank and is as per RBI policy and Financial Inclusion goals of the Government. . Your deposit will be visible at actuals on your screen itself and will change with every transaction you do.

    You have no reconciliation issues since your commission is also shown on your screen at all times. Your ledger for each day is available on the App itself , so you can reconcile your earnings the next day itself , online.

    Your commission is paid directly by the company into your account on a pre-set day. In the unlikely event that you wish to discontinue , the deposit will be reconciled within one month - with the next commission cycle - and the net balance refunded to you.

    The agreement with you will record all this, including the deposit.

    There is no GST risk since the company pays GST and as per GST council circular of Sept. 2018, you do not have to file any return in this regard.

  • What is included in Branding and IT assets?

    Branding includes lit external fascia signage with the Bank’s name as well as signage inside your store where you do the transactions - both as per your site requirements. Branding will be done so that it does not disturb your existing business as far as possible. It will be made centrally and you only need to install. IT assets include handheld device, PIN pad, fingerprint reader, A4 printer and thermal printer.

    Far from being a risk, we expect your existing business to improve due to higher footfall.

  • How does this work?

    Shipments will be handed over to you at your shop by the MP or DP - you will scan them in and deliver them locally. Since your deliveries are all within a 2 km radius, this will not be a problem or involve much extra cost.

    Similarly, your counter bookings will be collected from your store. For Banking ( withdrawals ), you will open the transaction in the software and then let the customer fill his / her PIN number etc. When the customer transaction is complete, you will print the receipt and hand over the money. For deposits, you will count the money, enter the amount and handover a receipt on our system - then complete the transaction and give a bank receipt. We will help you and train you in doing all this. Similarly, we will give you a standard procedure for accepting shipments or delivering shipments.

  • Why is this a good idea and why will it succeed?

    Many ATMs do not have cash and definitely no notes under Rs. 100 and often only 200 / 500 / 2000 notes are given. Most importantly, if you serve them with a smile and reliably, they will always come back to you. In fact, with increased footfall, your existing business will also improve.

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About us

Samudaay is a community enterprise anchored and coordinated by the Company as its custodian and leader. Our objective is to make a positive impact for our customers , partners and employees while we make a reasonable return for our shareholders.

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