SBI Kiosk Banking – A Govt. push under Financial Inclusion

On this Independence Day from Red Fort PM Modi has announced “Pradhanmantri Jan Dhan Yojana”  to open banking account for every citizen under “Financial Inclusion” program. (Aug15, 2014 – Economic Times )

SBI  launched first of its kind facility in India which enable poor workers and small businessmen slogging in urban areas to open a bank account with just one rupee. Small amounts can be deposited, interests can be earned and all services offered by the bank can be assessed under this initiative. SBI made biometric scanners mandatory for every retailer to operate this facility.


SBI Kiosks mostly referred as Customer Service Points (CSPs) have PC with internet connectivity. SBI kiosk are very successful in remote rural area where villagers hardly get the opportunity to access even basic bank services. It is more popular among migrant laborers who are working in metro cities like Mumbai, Delhi, Bangalore, they can deposit and send money to their relatives instantly. The kiosks  function like a mini bank branch with a business correspondent (BC-Pay Point India) available on all working days.


The BC remains equipped with a PC which is connected to the SBI’s core banking network. To make it more secure a censor is always used to recognize the fingerprints of concerned CSP on biometric scanner before any transaction on this portal. This initiative is a part of national rollout of  CSPs by SBI in association with Geosansar, which is SBI’s business correspondence partner.

Pay Point India is largest “National Business Corresspondent” for SBI Kisok/ Mini Banking and well spread in Maharastra, Chhattisgarh and Assam.


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