New Delhi: This calls itself a company promoted by the government not many conscious, and produces around Rs 6,000 crores worth of financial transactions every month, including by facilitating private banking settlements.
Public Service Center (CSC) – which operates around 4.5 lakh digital-inablement, retail stores and e-commerce in Hinterland managed privately by third-party non-government partners called ‘village level entrepreneurs or vles produced with transaction values .
Almost Rs 59,000 Crore in 2020-21, and was on its way to cross this fiscal 70,000 RS, said CEO Dinesh Tyagi.
Initially began as an outreach platform to advance digital initiatives and launched government programs throughout the rural belt and small cities, CSC units quickly turned into platforms accessed by banking and insurance companies such as HDFC (shareholders), FMCG companies such as Adani Wilmar, Pepsi And Coke, and even car makers like Tata Motors and Renault.
Supported by rapid growth in transactions, CSC is now aimed at tapping the capital market and raising funds through the IPO route, said Tyagi, touting companies as a platform with the strongest reach throughout the countryside.
“While no confirmed assessment has arrived at this time, we must easily have the status of Unicorn, and become a billion-dollar company,” Tyagi told Toi, added that the increase in funds was likely to occur in March next year.
“Funds will be used to support our expansion, establish corporate offices, and expand CSC infrastructure.” CSC is currently a government-controlled unit under the IT ministry, according to Tyagi, which adds that the central government has only one ‘gold shares’ in the entity, giving it effective control.
CSC was founded around 2006, and has grown from 80,000 centers around mid-2014 to more than 4.5 lakh units.