One person acting on another's behalf, usually in the context of company meetings. A shareholder in a company can give another person the authority to represent him or her (and is usually required to notify the company of the appointment).
Hey jigar, from my point of view the banking systems in the rural parts of india is called the proxy banking system and it makes use of Kiosks and ATMs using wireless technology. Moreover i am uploading a document for you which will give you better understanding of the subject.