Fed Jyothi is a smart card based solution in which customer transactions are facilitated in the field using hand-held terminals, aptly called micro ATMs, by Business Correspondent (BC) agents.
- Type of account is no-frills savings account
- Each customer is uniquely identified and authenticated using a combination of smart card and fingerprint biometrics
- Assistance for financial transactions is available from Business Correspondents (BC) agents
- Available services include Cash deposit, Withdrawal, Balance enquiry, Mini Statement etc
- Voice guidance & transaction slips are available in vernacular
- Features enabling easy operation by illiterate beneficiaries also.
- Fed Jyothi card issued to each customer is stored with information on the latest balance, last few transactions and customer biometric and demographic information.
- Fed Jyothi will cover 60 villages in all 14 Districts of Kerala, for the time being.