Siddhartha Bank has launched Branchless Banking services with brand name "Sajilo Banking Sewa" on 11th June 2011 from Pagnath VDC of Dailekh district. Pagnath VDC is considered one of the remote villages of the country. The service Sajilo Banking Sewa brought banking services to the doorsteps of the rural populace who had no access to formal banking system. For this service, the Bank appoints Business Correspondents who are popularly known as agent, who performs transactions on the behalf of bank. The agent is equipped with POS (point of sale) machine and magnetic strip card for operation of transaction. For authentication of transaction 4 fingers (thumb and index of each hand) are verified in the POS Machine. Customers can get facility of doing following transactions through the BLB system.
Financial Transactions: Deposit, Withdrawal, Fund Transfer, Payments on Account, Mobile and other utility bill payments
Non Financial Transactions: Balance inquiry and statement of last five transactions
Siddhartha Bank has partnered with following organizations for cash transfers and G2P payment using Branchless Banking Mechanism
- Enhancing Access to Financial Services Project supported by UNCDF/NRB (2010-20)
- Food and Cash for Work Project-World Food Programme (2011-2014)
- Human Development Social Protection Pilot Project-MoFALD/UNCDF (2013-2015)
- Gorkha Earthquake Support BLB Project-Sakchyam Access to Finance Project (2015-2018)