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When a company has a physical facility where consumers may go to seek assistance, they are said to be CSPs. “Bank Mitra” can also mean “Business Correspondent” (BC). A public-private partnership was proposed for the idea. The CSP is acting in a representative capacity on behalf of the designated financial institution. Make deposits, withdrawals, apply for debit/credit cards, and pay bills with its banking capabilities. It functions similarly to a small bank, but there is no need to visit a branch physically. A company can start handling CSP transactions once they have completed Bank CSP Apply and received approval. Most CSPs focus on serving people in outlying locations, where they can customise their financial services to match local needs.

Kiosk Banking, CSP Registration

• In 2011, Bank CSP partnered with the State Bank of India, the largest bank in India, to enter the Financial Inclusion sector. With the help of remote-biometric enabled Technology for Kiosk Banking, Bank CSP can provide mainstream financial services to the bank-excluded population of India.

• To facilitate banking transactions on behalf of the State Bank of India, bank CSP retailers are appointed Business Correspondents. Bank CSP is the engine that drives this technology. It’s a PC-based technology that can connect to the internet and couldn’t be simpler to operate. As a result, anyone can sign up to be a Business Correspondent (BC) and start taking deposits at a CSP kiosk.

• SBI Kiosk Banking is protected by fingerprint authentication. Every step of the account opening and online transaction procedure is documented on a printed receipt sent to the customer. No-frills savings accounts at bank CSP kiosks facilitate micro savings and micro remittances.

• Customers of State Bank of India’s Business Correspondents can now have their branch locations designated as Customer Service Points (CSPs) to conduct banking transactions on the bank’s behalf. Increase your income by signing up as a CSP or Business Correspondent for SBI Kiosk Banking. You can expand your company by offering SBI Kiosk Banking at your storefront. As a result, YOU are now a branch of India’s largest bank, State Bank of India.

Conclusion

NICT CSP is a leading business correspondent’s service provider in India, offering a wide range of banking options to customers from all walks of life.