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  • Advantages of SBI Kiosk Banking Financial Services Online

    Jan, 28 2020
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    sbi kiosk banking

    SBI Kiosk Banking is very important concept that is got initiated by the RBI in the partnership with SBI (State Bank of India). It came up as a financial breakthrough that is going to serve people who do not have easy access to banking facilities as a great measure to provide adequate finance services. This facility will provide better development of the rural areas while giving financial benefits altogether. This initiative was basically taken to help serve people who are living in areas where there are not no. of banks and where people find it difficult to visit banks to use their services.

    In SBI Kiosk bank appoints the retailers to open up a Mini-branch in the form of a CSP in order to carry out banking operations on the behalf of the bank itself. Kiosk is a computer-based technology that means anyone with proper knowledge of computers can open a Customer Service Point outlet. An acknowledgment receipt for each transaction is issued to the customer individually and the transactions performed by SBI kiosk are biometric.

    The Banking kiosk facility serves both the customers as well as the retailers who can easily boost up their earnings by becoming a Customer Service Point (CSP) in partnership with SBI bank “the largest bank of India”. So, the advantages of SBI Kiosk Banking is two-fold. Let us discuss about it:

    Benefits for the Consumers:

    The consumers are the ultimate people whom any products or services provider in society want to serve. The banking kiosks are here to fill the gaps between customers of the rural area and the financial facilities. The customers get some benefits as follows:

    • Opening & Maintaining of a paperless account.
    • No requirement of a cheque book.
    • No requirement to maintain a minimum balance when opening a new bank account.
    • Up to Rs 50000 balance can be kept in this account.
    • No applied additional charges for operating the account.
    • Get rid of standing in long queues.
    • Facilities of no frills account and Term/Recurring Deposits

    Benefits for Retailers:

    Retailers enjoy several other facilities, apart from growing out their business being a part of SBI online kiosk banking, these facilities are as follows:

    • Increase in business:

    Being a registered SBI retailer, the shop/business of small business owner will gradually receive various customers for fulfilling their banking needs and this is a great method of advertising your other important products or services.

    • Revenue:

    Retailers who work with SBI kiosk banking facilities get a fixed amount of revenue that depends on the transactions done by that particular CSP each day or on the number of new accounts opened by that CSP.

    • Advantage to Brand name:

    As the CSP is working under a trusted and responsible brand name like SBI, so people won’t get hesitated to come to you and would start taking the services once they get to know about your work.
    Wrapping Up:

    As there are advancements in technology are increasing, now people have started realizing the value of these online facilities as these advancements made things a lot easier than it used to be earlier. The government also has taken a great initiative to serve the most needed section of society by using technological advancements.

    Author Bio

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