Articles
A Look at the New Government Initiative to Take Formal Banking into the Hinterland
by CSP Bank Mitra BC Bank Mitra CSPThe rural economy has the potential to deliver big but unfortunately all these years there has been not much effort on the part of governments to channelize the savings of rural households. This attitude had to change and finally today in 2020, the government of the day has come up with a concrete plan to make sure that the hard earned cash of the rural folk do not go in waste. We would stress on the term waste because in plenty of instances the cash generated at the rural level finds its way to dubious chit fund companies via the agents. It is lately that there have been some reforms introduced in the banking sector with the intent to reverse this trend. We would like to speak about the Kiosk CSP Bank Registration concept.
It is a format where a legal registered agency on behalf of the bank is set up at the rural point. As an educated village youth, we would like to say that one can always apply for a Kiosk CSP Bank Registration. You may have career plans and perhaps pondering over a migration to the city in search of a livelihood. It is via offering such agency banking services one can build up a career right at the village level. You will perhaps be eager for more details and we would only be glad to share it with you. It is lately that the Reserve Bank of India has allowed all recognized banks under its fold to open up CSP points in the hinterland.
It is prior to applying for a CSP Bank Registration; one must note that the term stands for customer service point. As an applicant you will need retail space to operate as a bank mitra and this space is referred to as CSP. The concept of banking is referred to as kiosk bank and here the villagers can open bank accounts on a minimum formality. A villager may be illiterate and hence there is always scope to open bank accounts via the fingerprint medium. This location may operate as a bank but on a minimum scale from a financial transaction perspective. The functions, which a CSP point can perform, are broad based. A person can open a bank account and even deposit cash. He/she can withdraw money and even update the pass book. There is also scope for a bank mitra to sell insurance policies for Life Insurance Corporation of India.
As a bank mitra you are entitled to receive a commission for such services on behalf of the bank and in specific cases, the insurance companies. The payout is lucrative and hence it is all the more reason you would desire to opt for a CSP Bank Registration. The first criterion is to make sure that you have passed the standard 10. You will need some basic working knowledge of computers and have a clean image in the village. The NOC issued by the police is an important document, which you must gather. Finally, you will need retail space and a go ahead from the bank management with whom you intend to apply. One can also apply for an all bank CSP. Once the permissions arrive you can start operating as a bank mitra at the village level.
It is a format where a legal registered agency on behalf of the bank is set up at the rural point. As an educated village youth, we would like to say that one can always apply for a Kiosk CSP Bank Registration. You may have career plans and perhaps pondering over a migration to the city in search of a livelihood. It is via offering such agency banking services one can build up a career right at the village level. You will perhaps be eager for more details and we would only be glad to share it with you. It is lately that the Reserve Bank of India has allowed all recognized banks under its fold to open up CSP points in the hinterland.
It is prior to applying for a CSP Bank Registration; one must note that the term stands for customer service point. As an applicant you will need retail space to operate as a bank mitra and this space is referred to as CSP. The concept of banking is referred to as kiosk bank and here the villagers can open bank accounts on a minimum formality. A villager may be illiterate and hence there is always scope to open bank accounts via the fingerprint medium. This location may operate as a bank but on a minimum scale from a financial transaction perspective. The functions, which a CSP point can perform, are broad based. A person can open a bank account and even deposit cash. He/she can withdraw money and even update the pass book. There is also scope for a bank mitra to sell insurance policies for Life Insurance Corporation of India.
As a bank mitra you are entitled to receive a commission for such services on behalf of the bank and in specific cases, the insurance companies. The payout is lucrative and hence it is all the more reason you would desire to opt for a CSP Bank Registration. The first criterion is to make sure that you have passed the standard 10. You will need some basic working knowledge of computers and have a clean image in the village. The NOC issued by the police is an important document, which you must gather. Finally, you will need retail space and a go ahead from the bank management with whom you intend to apply. One can also apply for an all bank CSP. Once the permissions arrive you can start operating as a bank mitra at the village level.
Article Source: https://vigyaa.com/a-look-at-the-new-government-initiative-to-take-formal-banking-in/?articleId=31a1099d
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About CSP Bank Mitra BC 
Bank Mitra CSP
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Created on Jul 14th 2020 02:04. Viewed 380 times.
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