Digital India CSP All Banking Services in - PowerPoint PPT Presentation

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Digital India CSP All Banking Services in

Description: - Through Digital India CSP, you will be authorized to offer all banking services of the leading banks in India. You will not only be getting a handsome commission for the services rendered by you but also a lucrative basic pay each month. – PowerPoint PPT presentation

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Title: Digital India CSP All Banking Services in

CSP Bank Mitra BC is the technology service
provider and business correspondent to several
banks. It was formed with the aim of serving the
customers of various banks with their best
facilities. They also aim at providing financial
support to the lower income groups of the society
like labourers and workers who do not have a
savings account due to the lack of proper
Bank Mitra has tie-ups with several public and
private sector banks like Indian Bank, YES Bank,
Punjab National Bank, Axis Bank, SBI, Allahabad
Bank, Canara Bank and more. Their wide network
that is expanding even more now, is here to
support the business partners and provide the
best facilities to the loyal customers of the
Kiosk Bank
A Guide on Ways To Set Up A Kiosk Bank 
The Indian government along with the RBI has
taken an initiative for the betterment of rural
society and hence the concept of a Kiosk Bank is
in place today. Indeed, the hinterland areas were
long deprived of formal banking. These are areas,
where the population density is low and it
becomes tough for a normal bank branch to operate
on profits. In the absence of formal banks,
plenty of dubious chit fund companies collected
money from the villagers promising astronomical
returns. However, in reality, these companies
disappeared into thin air and it was a loss of
valuable financial resources for the rural folk.
The people living in the hinterland areas
required a reliable source to deposit savings and
hence this form of banking is in place.
The Indian government in tandem with the RBI has
been implementing plenty of reforms in the
banking sector. There have been plenty of
announcements of late, but the focus of all has
been on developments related to kiosk banking. It
is via this arrangement the government intends to
reach out with formal banking services to the
hinterland areas. It is important to channelize
rural savings and bring it into the formal
economy. This format of banking serves just this
purpose.  This concept also helps to generate
employment. It is via Kiosk Banking the
government also looks to generate employment at
the rural level. It is a Bank Mitra who is in
charge of the operations at the kiosk point and
the guidelines clearly state that only unemployed
but educated youths will be eligible to apply for
this post. Hence, if you are searching for
employment close to the village level, this is a
viable alternative. 
What Is The Difference From A Normal Branch? The
basic difference between a Kiosk Bank and any
nationalized branch is the low manpower. At the
kiosk point, it is only a Bank Mitra in charge of
operations. This means that despite low banking
volumes, one can still operate these points at a
profit. The operations are quite similar to a
normal bank and perhaps a bit more. It is because
Bank Mitra can sell LIC policies and even prepaid
mobile vouchers. The scheme surely introduces the
local villagers to formal banking and there is
also an earnings opportunity to grab. The post of
a Bank Mitra is reserved for only unemployed but
educated youths. This scheme caters to the need
of youths in search of jobs.
As you apply for the post of a Bank Mitra, there
is also a need to place a CSP Application
simultaneously. The customer service point is a
real estate space and you will have to arrange
for it. This is a space, which can operate as
your office and it will be the kiosk point for
the local community. This is the space, where
they will arrive and open bank accounts and
engage in formal baking services. This point
could be inherited from ancestors or you may even
purchase it just for banking operations. The
particular bank sanctioning the kiosk and the CSP
point will not arrange for it. One must make sure
that the CSP point is not too close to a formal
branch. It always invites the risk of customers
walking directly into the branch and avoiding
you.  There is professional help on offer. One
can take expert help for the kiosk and CSP
Application. However, you must also be ready to
make some investments for a basic office setup.
One will need a computer for operations and these
are the investments, which you must be ready to
make. It is alongside the application for kiosk
banking, one may have to place a NOC from the
local police. This minimum formality is necessary
because you will be dealing with public money.
One must quickly complete the formalities because
there are lucrative earnings opportunities for a
Bank Mitra. It is a nice career in the offering
and you must not miss out. 
How Do You Apply?
This concept is also known as the CSP Bank to the
rural population because the operations are
centered on the customer service point.  However,
before applying for a Bank Mitra post, one needs
to arrange for this space. It could be your
property and there is also the option of renting
it. It is alongside one may have to obtain a NOC
from the local police station. You will be
handling public money and hence the bank
sanctioning your application will be eager to
check out that the Bank Mitra should not have a
criminal record. 
An Insight Into The Functioning
The CSP bank performs similar operations to a
nationalized bank but on a much smaller scale.
People can open accounts and deposit, withdraw
money. There is also the scope to place the order
for cheque books. A CSP location can also sell
insurance policies for LIC and even offer
customers pension plans to survive at old age.
These are some of the schemes, which you can
offer beyond core banking and you can even
recharge prepaid mobile phones. There is plenty
of scope for earnings and this is a lucrative
career option for the unemployed village youth. 
Why is the SBI CSP Apply The Bet Scope for A
Career? The Indian banking industry has made a
desperate attempt to penetrate the interiors via
the CSP model and this was perhaps long overdue.
There has been much talk about rural savings
falling into the hands of dubious chit fund
companies. it is a waste of financial resources
and as a nation we simply could not afford it.
Hence, the CSP and kiosk format of banking is in
place and all nationalized banks are offering it.
The villagers come under the purview of formal
banking and their savings are safe in the formal
economy. As an educated but unemployed village
youth, one must note that .this model also offers
lucrative earnings scope as you opt for a CSP
Apply. What is it precisely?  The RBI has given
sanction for major banks to set up CSP points. A
customer service point is a place from where the
Bank Mitra will be offering kiosk banking to the
rural population. You will certainly have to opt
for a CSP Apply and the priority is that you will
need to be educated but unemployed. This scheme
has a two-fold initiative and there has been
mention that it is about introducing the rural
folk towards formal banking. The other objective
of the scheme is to generate employment in the
rural section of society. The government is
determined to put an end to the constant process
of migration to the cities from the villages in
search of jobs.   One must opt for an SBI CSP
application Most nationalized banks under the
purview of the RBI are eager to set up kiosk
points. Hence, if you intend to apply, there are
multiple choices. However, if you have to make a
selection, it could be an SBI CSP Apply. There
are some strong reasons to suggest only the State
Bank of India CSP. As you take a look at the
functioning of a Bank Mitra, one will see that
the brand of SBI will help out in the function.
The role will be to convince people to open bank
accounts. If you approach the villagers with a
reputed brand such as SBI, it will be easier for
you to convince them. The operations should see a
smooth start and the cash flow will only
follow.  A look at the other income
prospects There is professional help for an SBI
CSP Apply and if you are eager to make some
initial investment of an office set up, the
sanctions should arrive soon. There also may be a
need to place a NOC from the local police and
these are some minor formalities. As you set up
operations, one will find that there is multiple
earnings scope. A Bank Mitra can offer a lot more
from the CSP point. There is a scope to sell
insurance policies and even recharge prepaid
mobile coupons. There is even scope to sell
pension plans to the villagers so that they can
survive at old age. All these are additional
earnings scope and no wonder plenty of the
educated village youths are eager to work as a
Bank Mitra. It is a lucrative career opportunity
and you must not miss out. 
  • Circular Garden Reach Road, Garden Reach,
    Kolkata, West Bengal,700018.
  • Saneguruvanahalli, Basaveshwar Nagar, Bengaluru,
    Karnataka 560010.
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