Niyo to drive financial inclusion among blue-collar workers
West Bengal

Niyo to drive financial inclusion among blue-collar workers

Agency News

Kolkata, Mar 05 : Niyo Bharat, a new age neo-bank for blue-collar employees, has set off on a mission to revolutionize banking experience for this segment.

In line with this mission, Niyo aims to reach out to the blue-collar workers in West Bengal. Currently, Niyo has tied up with 59 corporates in West Bengal and has 7000 customers that they serve. Niyo Bharat plans to increase this number to 20 lac customers by 2022 so as to further extend their services to West Bengal where there is a large labour force and encourage the development of a cashless economy.

Niyo Bharat offers a salary account for blue-collar employees, making salary management more convenient, hassle-free and safe for the employees while providing a state-of-the-art HR solution during salary disbursement for the employers.

Darpan Sharma, Business Head, Niyo Bharat said, “Niyo Bharat aims at financial inclusion of low income earners of our society with innovative products. West Bengal is the fourth largest state employing over 9 million blue-collar workers. Niyo aims to revolutionize banking experience for them with 'Niyo Bharat APP' offering features like digital gold, mutual funds, small ticket loans, bill payment etc in their own language.“

Employees can instantly open new accounts at their work sites. They enjoy the liberty to maintain zero balance in their salary accounts without any charges being levied. To ensure safety of the highest order, there exists an option to lock/unlock/block the card using the Niyo Bharat mobile app. Its multilingual Niyo Bharat Mobile App has been tailor-made for blue-collar employees with a voiceover enabled feature to make salary management convenient by using it in their preferred local language. To ensure better cash flow and to meet the emergency needs of the employees, it provides an Advance Salary feature too. Niyo endeavours to inculcate the habit of disciplined savings by providing wealth products such as Mutual Funds and Digital Gold wherein investments can even be done in low denominations starting from Rs 1 and Mutual Funds starting as low as Rs 100.

The app also helps with other essential services such as free fund transfer, digital passbooks, in-app customer care. Another salient product feature includes free accidental death insurance for every active customer. Niyo Bharat today has over 6,000 corporations directly connected and over 15 lakh customers.(UNI)