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SBI opens 50 kiosk branches

BS Reporter/Mumbai 16 Sep 10 | 12:31 AM
Related to : State Bank of India
 State Bank of India
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State Bank of India (SBI), the country's largest lender, today announced that it had opened 50 first-of-its-kind ‘kiosk branches' in Mumbai in partnership with pre-paid services provider Oxigen Services and Sahyog Microfinance Foundation.

The effort is aimed at providing basic banking services to lower income segments.

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In November last year, the Reserve Bank of India (RBI) had permitted individual kirana, medical and fair price shop owners to serve as business correspondents (BCs).

The concept of kiosk branches involves hooking up web-enabled retail stores to SBI's core banking platform and using the shops as a touch-point for basic banking services such as cash deposits, withdrawals and remittances apart from micro-credit and insurance.

A retailer can open a no-frills bank account for a customer by recording fingerprint details and taking a photograph of the customer. The details along with other documents are forwarded to the affiliated SBI branch to carry out the know-your-customer process. Once the account is up, a customer can withdraw, deposit or remit a maximum of Rs 10,000 per day through the internet-enabled kiosk branch.

All transactions will be validated by fingerprint authentication. SBI and Oxigen have already carried out a pilot project involving 30 kiosk branches in the New Delhi and National Capital Region. According to SBI General Manager (Mumbai) Riten Ghose, 350 accounts have already been opened and transactions of several thousand rupees have already been carried out through the pilot kiosk branches.

The existing 5,000 web-enabled Oxigen retailers in Mumbai and Maharashtra are targeted to customer service points to SBI.

Sahyog Microfinance will serve as BC for SBI.

Comments

    09 Jun 13 at 08:38 PM
By: satish dnyandev gadade

sir plz read me iam csp of sbi kiosk banking benwadi tel kajat dist ahemdnager mh but i have no any help karjat branch plz contect us 9421836672

    03 Mar 13 at 01:02 PM
By: abhishek pratap

08181813762 & this is my e mail id- abhishekpratapsingh.com@gmail.com for sbi csp in ballia,plz help & inform me. thanks

    03 Mar 13 at 12:57 PM
By: abhishek pratap

dear sir i want to sbi kiosk csp in u.p.(ballia) plz help and support me, and plz inform me my e mail id, thanks & regards your-abhishek

    02 Mar 13 at 10:21 PM
By: abdul wazid

Sir, i want to open state bank of India kiosk banking centre in nagaur(rajasthan). please let me know what is the procedure.waiting for the reply thank you. my number 9950904004

    11 Feb 13 at 05:11 PM
By: SIDDHARTH AGARWAL

OPEN YOUR SBI KIOSK BANKING AT YOUR PLACE !!!!!!!!!!!!!!!!!!!!!!!!!!!1 Dear Customers State Bank Of India “Greeting” Become a SBI BANK CSP at your place…… Great opportunity to start SBI BANK at your shop & earn up to 35,000 to 50,000 Per month & create your brand name. Be a part of SBI Bank. More Details call to our Expert: MR.SIDDHARTH ( 9867389822) for details log on ::kioskofsbi.simplesite.com

    03 Feb 13 at 08:32 PM
By: kishore chandra padhy

it is a very good pilot project of sbi bank.project how to understand it mini bank money trasation highly cost.

    18 Dec 12 at 09:46 AM
By: girish

Dear sir girish malkhari have 3 yars exp in marketin and admin sir i want start sbi kisiok banking in my home town i want help my people so plz sugest me . girishmalkhare@gmail.com

    15 Sep 12 at 04:43 PM
By: rahul

suggest how to enroll for the sbi kios banking

    14 Sep 12 at 05:50 PM
By: Ravi kumar srivastava

Dear sir I am Ravi kumar srivastava i have 3 yars exp in marketin and admin sir i want start sbi kisiok banking in my home town i want help my people so plz sugest me .

    27 Jun 12 at 11:03 AM
By: Dinesh

sir, hallo sir i appilied Kiosk through ZEROMASS but JAIPUR AGM REFUSES to give CSP at Nasirabad Sir plz do somthing so i can open CSP Thanks & regards Dinesh Nasirabad (AJMER0

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