BASIX: Leveraging Livelihood Triad with Micro-credit
Increasingly, technology is enabling unprecedented financial inclusion. More and more firms and companies are following the financial growth. Risk mitigation through proven practices and Risk Management through buying insurance, is ensuring local value addition through further processing of produce. Hyderabad headquartered insurance and consulting company Basix, facilitates financial inclusion with its credit, savings, insurance and other services. BASIX is a group of companies involved in providing services contributing to livelihood creation, support and enhancement in rural areas. Through its network of over 10000 business correspondence and CSC outlets placed in village across 24 states and 3 UTs, Basix group is pushing the boundaries of financial inclusion in rural areas in collaboration with 14 banks. The transactions are performed using Biometric devises which are connected with Bluetooth, thereby enhancing security and speed of the transactions. 
Basix group focuses mainly on micro transactions-like premium payment, insurance cover note generation, banking or commercial transactions of PoS
Ministering Microfinance and Insurance with IT
Basix group has 4 core operating companies namely BASIX Sub-K iTransactions Ltd. facilitating Financial and Transactional Services, BASIX Academy for Life-long Employability (B-ABLE) proving skill training for youth, BASIX Krishi Samruddhi Limited (BKSL) providing Agriculture
Support Services and BASIX Municipal Waste Ventures Limited (BMWV) providing supervisory services in door to door household waste collection service. Along with 4 core operating companies Basix group has 2 consulting companies; BASIX Consulting & Training Service Limited (BCTS) and CTRAN, providing consulting services on livelihood themes. BASIX promoted, under SFAC financial assistance,over 376 Farmer Producer Organizations/ Companies (FPO/FPC) across 21 states covering over 3,58,097 farmers. These services include mobilizing members, forming the FPO/FPC, completing the statutory requirements like registration with appropriate authorities, linking with institutions for financial assistance and market linkages, managing operations and facilitating proper governance with system establishment. Serving the rural India, Basix group focuses mainly on micro transactionslike premium payment, insurance cover note generation, banking or commercial transactions of a PoS.
Indian agriculture and economy is expanding due to Government’s digitization initiatives to places including those with least expectancy to succeed. Executing government sponsored programmes with little or no margins and making undue delay in realising the payments, will always remain the key pain point. Basix, with its Agriculture Development Services, is ensuring enhanced productivity with leaner costs, local value addition and market linkages. Agriculture/Business Development Services of Basix includes productivity enhancement, risk mitigation, local value addition and alternative market linkages. Local value addition is enabled through further processing of produce and connecting to alternative markets through linkage to multiple buyers in an effective manner. For example, in case of farmer producing potato, BASIX helps the FPOs in identifying the appropriate variety of seed for the location, connecting to reliable seed supplier, training on good farming practices and application of appropriate fertilizer.
Building solidarity and trust is most important when an inclusion is taking place. While, technology is fast tracking this inclusion, Basix with its solutions is all set to integrate financial inclusion services, agriculture and business developments via its risk mitigation and management procedures.
Indian agriculture and economy is expanding due to Government’s digitization initiatives to places including those with least expectancy to succeed. Executing government sponsored programmes with little or no margins and making undue delay in realising the payments, will always remain the key pain point. Basix, with its Agriculture Development Services, is ensuring enhanced productivity with leaner costs, local value addition and market linkages. Agriculture/Business Development Services of Basix includes productivity enhancement, risk mitigation, local value addition and alternative market linkages. Local value addition is enabled through further processing of produce and connecting to alternative markets through linkage to multiple buyers in an effective manner. For example, in case of farmer producing potato, BASIX helps the FPOs in identifying the appropriate variety of seed for the location, connecting to reliable seed supplier, training on good farming practices and application of appropriate fertilizer.
Building solidarity and trust is most important when an inclusion is taking place. While, technology is fast tracking this inclusion, Basix with its solutions is all set to integrate financial inclusion services, agriculture and business developments via its risk mitigation and management procedures.
