A CSP Registration Should Pave Way for Lucrative Earnings Prospects at The Village Level

It is lately that there has been a big reform announcement in the banking sector and RBI has launched the kiosk banking concept amidst much fanfare. The intent is to reach out with formal banking services into the hinterlands of this country. The rural folk generate plenty of cash but the absence of banking channels leads to a scenario where this cash goes in waste. It ends up in the hands of dubious chit fund companies. The RBI has surely got some great plans and by opting for CSP registration, you can make a valuable contribution. It is actually a twofold objective on the part of RBI and government of India. The intent is surely to offer banking services to the rural youth but alongside generate employment for the educated village youth.

It is prior to opting for CSP Registration you must understand the concept. A CSP is referred to as a customer service point and this can function as a mini branch for a national bank. This is a retail space, which you must present at some interior location. One must select carefully and make sure that it is located at a significant distance from any nationalized branch. You must not make the mistake of setting up this outlet too close to a national bank branch. If you do so there is always the scope of losing out on the customer base. You play the role of a bank mitra and represent the bank at the village level.

Your primary function is to introduce the rural population to formal banking. It is alongside you can try out plenty more things such as offering them the Atal Pension Yojana Online. Let us first discuss the banking part of the role. You will have to encourage and assist the rural folk to open bank accounts. Since you are operating in the hinterland one may have to deal with illiterate customers and they may not have adequate documents. Hence, to make things easy the RBI allows a Kiosk bank branch to open accounts with minimum documents. It should be hassle free to open these accounts and as a tip, we would insist on the need to target the migrant labor community. They carry very little documents and you can explain to them that via opening bank accounts, they can send money back home through a proper channel.

It is alongside a profession you are offering a social service because this arrangement helps the rural folk to channelize the savings. The remuneration for offering such a service is lucrative and let me now talk about the Atal Pension yojana online plan. It is from a CSP point you can offer a lot more beyond core banking. There is scope to sell this pension plan to the village folk so that they can secure the old age. There is even the scope to recharge the prepaid mobiles. Hence, once you set up a CSP location, there is abundant earnings scope and it is great from the career perspective.

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