Aegis gets Rs 200 cr contract from Punjab National Bank

Contract to manage, support PNB's Pradhan Mantri Jan Dhan Yojna contact center

Aegis, the business process outsourcing (BPO) arm of Essar group, has bagged a five-year contract from Punjab National Bank (PNB) to support and manage the banks' Pradhan Mantri Jan Dhan Yojna contact center. While the company refused to share the financial details, industry sources estimate the contract size to be around Rs 200 crore.

"This would be the first customer contact centre institutionalised by a public sector bank for the Pradhan Mantri Jan Dhan Yojna," Aegis said in a release.

Pradhan Mantri Jan Dhan Yojana is a scheme for comprehensive financial inclusion launched by Prime Minister Narendra Modi in August this year. As per reports, on the inauguration day of the scheme 1.5 crore bank accounts were opened under this scheme.

 

Modi on Monday said that around Rs 1,500 crore have been deposited so far in banks under the scheme.

Under the contract, Aegis will provide customer lifecycle management support for the banks' products and services such as deposits operations, core banking processes, lending services, internet banking, and account and card related services. Aegis will also manage customer on-boarding and service operations, data management and collections under the Pradhan Mantri Jan Dhan Yojna for PNB.

Aegis will also provide customer relationship management (CRM) platform, customer grievance resolution module and customer intelligence to PNB.

At the beginning of the project, Aegis will engage about 500 personnel, which would later be scaled up to 1,500 across Gurgaon and Bhopal, the company said.

Aegis' other clients in the banking space including Bank of Baroda, Bank of India, Union Bank, UCO Bank and Federal Bank. The company has won over 12 banking BPO contracts in India over the last 12-18 months.