How Does SBI Kiosk Banking Work ?
SBI Kiosk Banking – State bank of India (SBI) has stated the Kiosk Banking to support the Indian government objective to provide the banking services to each and every person in the country. The Kiosk Banking is an extended version of branch banking for a low-income group or the weaker section of the society. SBI Kiosk Banking allows the basic banking facility at your doorsteps. The various facilities included in the SBI Kiosk Banking are fund transfer, deposit and withdraw at nearby location for the people without much hassle and standing in long queues as there are fewer banks situated in rural areas.
The Kiosk Banking has initiated the financial inclusion for the weaker section of the society for experiencing the habit of saving.
What is SBI Kiosk Banking?
Key Highlights :
SBI has the largest branch network in the country along with the largest bank with larger number of Kiosk Banking. NGOs, Companies and other entities are joining hands with SBI Kisok in order to take banking to Everyone. The transactions through SBI Kiosk Banking are bio-metrically secured. A printed acknowledgment for each transaction is issued to the customer and it has End-to-end process of account opening & online transactions including Micro remittance.
It supports the enabling CSC point with online instant account opening for individual with no or less KYC documents.
How Online SBI Kiosk Banking works:
- Any individual may partner with SBI or any other banks in India after following the due process and fulfilling the business criteria
- Selected individual or company to open the no-frill account (zero balance account for weaker section) following the extant guidelines like bio-metric information, photographs, recording of fingerprint and other necessary details of the customer.
- These details and with more documentation are sent to the bank branch to build their identity and for further know-you- customer system.
- Once the account is created, the customer can now deposit, withdraw and successfully transfer cash easily.
- They can only do this process within an amount of Rs. 10,000 per day via online kiosk booths with internet connectivity.
SBI Kiosk Banking Offers the Following Services:
SBI Kiosk Banking provides the following services at CSC:
- Withdrawal of Cash/Deposit of Cash
- Urgent Money Transfer to any Bank Account
- AEPS Facility i.e. Aadhar Enabled Payment System
- Balance Enquiry/IMPS Transaction
- Issuing of Identity Card/Rupay ATM Card
- Recurring Deposit/Loan Deposit
- Electronic-KYC Enrolment/Fixed Deposit
- Social Security Schemes like PMJJY, PMSBY & APY etc.