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Years Experiecne
About Company
DOL Money is a pioneering financial services provider operating on a Business Correspondent (BC) model, delivering inclusive banking solutions across India. With a focus on financial empowerment, we are dedicated to bringing essential banking services to every corner of the country. Our pan-India operations ensure that even the most remote communities have access to financial services, bridging the gap between traditional banking and the unbanked population. Join us in our mission to create a financially inclusive India.
Our Partnership in Maharashtra:
Shri Venkatesha Multistate Co-Credit Society, founded in 2013, provides financial services to rural populations in Maharashtra and Karnataka. With over 50 branches, it serves more than 2.5 lakh members and holds deposits exceeding INR 700 crores.
Venkatesha Multistate plays a crucial role in financial inclusion, offering services to individuals, SMEs, micro-businesses, and the unorganised sector. By introducing franchises, it extends its reach and impact.
For our esteemed DOL Partners, we now present an exciting opportunity to start a full-fledged Venkatesha Multistate Adhikrut Kendra at your location, marking the next step in your entrepreneurial journey.
DOL Money
The Venkatesha Multistate Adhikrut Kendra model typically involves setting up a physical Adhikrut Kendra or banking kiosk. You will be responsible for day-to-day operations, including customer service, account management, and facilitating financial transactions.
The location of your franchise is crucial. It should be in an area with good footfall and a demand for banking services.
You’ll need to set up the necessary infrastructure, including computer systems, security measures, and banking equipment.
Hiring and training staff is a critical part of the business. Your employees will be the face of the bank to the customers.
While you benefit from the bank’s brand, you’ll also be responsible for local marketing and customer acquisition efforts.
Adhering to banking regulations is non-negotiable, including KYC, anti-money laundering, and legal requirements.
Unlock unparalleled earning potential with our business model. your gateway to financial growth and success.
DOL Money
Offering secure and convenient banking solutions for every customer, Effortlessly open savings and current accounts.
Offer your customers the convenience of opening Digital Pigmy account with us for secure and flexible savings solutions.
Provide your customers with reliable and rewarding Recurring Deposit and Fixed Deposit services for their financial growth.
Effortless credit access for every Indian, making financial solutions simple and accessible for all.
Empower your customers with easy and accessible mobile loan services for their financial needs.
Help your customers achieve their dream home with our comprehensive Housing Loan services.
Enhance your customers' financial flexibility with our comprehensive Credit Card services.
Unlock the value of your customer’s gold with our fast and flexible Gold Loan.
Offer your customers personalized and flexible personal loan services to meet their financial goals.
DOL Money
| Parameters | Venkatesha Multistate Adhikrut Kendra |
|---|---|
| Registration Fees (INR) | 5000 + GST (INR 5900) |
| Deposit Amount | No Deposit Needed |
| Office Space Required | > 500 Sq Feet |
| Infrastructure Expense | Approximate INR 5 Lakhs (Refer Exp Table) |
| Monthly Expenses (Approx) | INR 1 Lakh + (Refer Exp Table) |
| Monthly Revenue (Approx) | INR 2 Lakhs + (Refer Exp Table) |
| Material Name | Material Specifications | Measurement | Quantity | Pcs Count | Total Refurbished Cost inc GST |
|---|---|---|---|---|---|
| False Ceiling | False Ceiling | Sq Feet | 600 | 600 | 24000 |
| Glass Door | Toughened Glass with material with fitting | Sq Feet | 20 | 2 | 12000 |
| BM Cabin | Corner & side two glass partition with fitting | Sq Feet | 100 | 1 | 30000 |
| Cash Counter | High deck with glass for - two desk | 8x5x3 | 1 | 1 | 15000 |
| BM Desk | BM sitting Table - Back side drawer with L - side | 3x5 & 1.5x5 & 1.5x5 | 1 | 1 | 15000 |
| ABM Desk | ABM Desk - Back side drawer with L - side | 2x5 & 1.5x5 | 1 | 1 | 15000 |
| RM Desk | RM Desk - with side drawer | 2x5 & 1.5x5 | 1 | 1 | 12000 |
| Welcome Desk | Welcome desk with drawer | 4x3x3 | 1 | 1 | 15000 |
| Chairs | Executive/ Boss Type - Branded Chair | Count | 1 | 1 | 5000 |
| Chairs | High Quality Branded - Chair | Count | 1 | 15 | 45000 |
| Sitting Chairs | Four sitter in one seat | Count | 1 | 1 | 15000 |
| LED Lights | LED Lights - 2x2 Sq Ft | Sq Feet | 15 | 10 | 15000 |
| Flooring | PVC Flooring sheet | Sq Feet | 500 | 1 | 20000 |
| Fire Extinguisher | Fire Extinguisher | Count | 1 | 4 | 2000 |
| Total Approximate Infrastructure Cost INR | INR 2,42,000 | ||||
| Material Name | Material Specifications | Measurement | Quantity | Pcs Count | Total Refurbished Cost inc GST |
|---|---|---|---|---|---|
| Electric Work | Wiring, Switches, Points | Count | 1 | 40 | 10000 |
| Wall Fans | Wall Fans | Count | 1 | 6 | 12000 |
| Painting | Wall Paint | Sq Feet | 600 | 1 | 12000 |
| Inverter | Inverter back-up | Count | 1 | 1 | 25000 |
| Total Approximate Infrastructure Cost INR | INR 59,000 | ||||
| Material Name | Material Specifications | Measurement | Quantity | Pcs Count | Total Refurbished Cost inc GST |
|---|---|---|---|---|---|
| Wallpapers | Wallpapers on glass and walls - Vinyl | Sq Feet | 200 | 1 | 20000 |
| Name Board | Front Signage - Board | Sq Feet | 4x12 | 1 | 20000 |
| CPU | CPU | Count | 1 | 3 | 27000 |
| Monitor | LED Monitor - 21 inches | Count | 1 | 3 | 15000 |
| Printer | One Colour & One Black & White | Count | 1 | 2 | 20000 |
| Other IT | Router, Switch, LAN Cable, VPN | Count | 1 | 1 | 15000 |
| Biometric | Biometric | Count | 1 | 1 | 5000 |
| Currency Counting | Currency Counting with fake note detector | Count | 1 | 1 | 6000 |
| Total Approximate Infrastructure Cost INR | INR 1,28,000 | ||||
DOL Money
We understand that setting up an office is just the beginning. To keep operations running smoothly, you need funds for essential expenses. That' s why we ' re offering an exclusive credit line of up to ₹2 Lakhs through Venkatesha Multistate. Credit line approval is subject to bank policy
| Parameters | Disb Count | ATS-INR | Target | Margin up to | Revenue-INR |
|---|---|---|---|---|---|
| Payout on Disb - Venkatesha Loan Products | 10 | 100000 | 1000000 | 2.00% | 20000 |
| Payout on Net Disbursement - Credizy BL | 15 | 300000 | 4500000 | 2.00% | 90000 |
| Payout on Interest Sharing - Credizy BL Portfolio | 15 | 300000 | 4500000 | 3.00% | 135000 |
| Digital Pigmy Collection - UPI Autopay | 100 | 3000 | 300000 | 3.00% | 9000 |
| Recurring Deposit (RD) | 100 | 3000 | 300000 | 3.00% | 9000 |
| Fixed Deposit (FD) | 10 | 25000 | 250000 | 3.00% | 7500 |
| Total | 270500 | ||||
| Parameters | Count | Estimated Cost INR |
|---|---|---|
| Assistant Manager | 1 | 20000 |
| Field Sales Officer | 2 | 24000 |
| Cashier | 1 | 18000 |
| Office Boy | 1 | 10000 |
| Office Rental | 1 | 15000 |
| Electric Bill | 1 | 3000 |
| Tea & Snacks | 1 | 5000 |
| Internet & Mobile Phone | 1 | 3000 |
| Pantry Bills | 1 | 2000 |
| Total Expense Amount | 100000 | |
| Sr | Training Modules | Description |
|---|---|---|
| 1 | Induction | Introduction and journey of the organisation; rules, regulations, benefits, and policies for employees |
| 2 | Banking Operation Management | Comprehensive training on banking operations |
| 3 | RBI Compliances and Regulations | Adherence processes for RBI regulations and compliances for banks |
| 4 | Customer Service | Techniques for customer handling and ensuring satisfaction |
| 5 | Soft Skill Training | Development of interpersonal and communication skills |
| 6 | Business Writing and Email Etiquettes | Training on professional writing and email etiquettes |
| 7 | Product and Process Training | Detailed training on various products and processes |
| 8 | Motivational Training | Sessions to boost employee motivation and morale |
| 9 | Sales Strategies and Case Studies | Training on sales techniques and analysis of case studies |
DOL Money
Our plan is to establish 500 Adhikrut kendra across Maharashtra and Karnataka. The steps toward achieving this goal are as follows:
DOL Money
The Central Registrar of Cooperative Societies (CRCS) regulates Venkatesha multi-state cooperative Credit society (MSCS) .
A Venkatesha Multistate Adhikrut Kendra offers a comprehensive range of banking services similar to a full-fledged bank Adhikrut Kendra, including deposits, loans, and cashier counters. The office interior and services will resemble those of a bank. Unlike a Adhikrut Kendra, which provides limited services in a smaller kiosk with average service levels, a Venkatesha Multistate Adhikrut Kendra offers a more extensive range of financial products for customers in rural Maharashtra and Karnataka.
Yes, you can operate a Venkatesha Multistate Adhikrut Kendra in partnership with another business partner.
You can register your Venkatesha Multistate Adhikrut Kendra as a Private Limited Company, Limited Liability Partnership (LLP), or a Proprietorship firm as per your requirement.
Yes, you can take multiple Venkatesha Multistate Adhikrut Kendras at different locations.
Yes, your private limited company can enter into a partnership agreement with Venkatesha. However, certain documents like company and director KYC, shop act license, and Udyam registration are required.
The Maharashtra Co-operative Societies Act, 1960 governs the operations of Venkatesha Multistate.
No, you (the Adhikrut Pratinidhi or franchisee) are responsible for paying the infrastructure cost directly to the registered infra vendor of DOL Money.
While the overall theme of the office must be maintained, you can make minor changes with prior approval.
Yes, you can hire employees directly. However, it's advisable to discuss the hiring process with DOL Money.
Yes, DOL Money can provide assistance with the hiring process.
Your employees will be on the payroll of your Adhikrut Kendra.
Yes, DOL Money can support you in setting up the payroll process.
You (the Adhikrut Kendra and pratinidhi) are responsible for payroll compliances and employee salaries.
A prequalified credit line is subject to certain qualifying criteria, hence documentation is necessary to assess eligibility.
No, the office space is exclusively for Venkatesha Multistate Adhikrut Kendra operations.
Yes, you can do business at any location within Maharashtra, regardless of the presence of other Venkatesha branches or Adhikrut Kendra.
You need to provide a two-month notice before terminating the business relationship. A closure audit and handover process will be conducted as per company policy.
The payout for your connectors depends on the specific product or service. DOL Money will provide guidelines, and you (the Adhikrut Pratinidhi) are responsible for managing their connectors payouts.
Legal issues related to the Venkatesha Multistate Adhikrut Kendra will fall under the jurisdiction of Pune.
DOL Money will provide and arrange operational and product training for you and your employees.
Business payouts are made on a monthly basis. You can also utilize the credit line facility as working capital.
The infrastructure setup typically takes 20-30 days to complete.
DOL Money will support with common branding initiatives.
Yes, Venkatesha will provide you with an Adhikrut Kendra Certificate and Code.
Yes, Venkatesha will provide ID cards for you and your employees.
