Have Indian banks appointed agents to sell recurring deposits?

I recently met someone who claimed to be from a company that collects recurring deposits for Nationalised Indian banks.He said they will first open an account for me in a bank & keep a box in my shop. I am to deposit any amount daily in the box. at the end of the month they total the money in the box, put THEIR money in the RD account at the bank, show me the bank receipt & then take the money from my box.
is this a scam or is this for real?