A Brief Insight into The CSP Concept And How It Can Change Rural India

One of the pitfalls of the banking system is that even after 70 years of independence; it has not been able to make a presence felt in every corner of this country. There are areas, which even today are beyond the reach of the formal economy and perhaps this has been intentionally done by the Indian banks. A village may have a thin population and it might not be profitable for a bank to open a branch in such instances. The illegal chit fund companies seem to have identified this loophole and have exploited the illiterate village folk a lot. The government had to put an end to all of this and hence as an alternative the CSP theme and Kiosk banking concepts are in place today.

The term CSP stands for customer service point and this can act as a frontal organization for any of the known banks in India. There are youngsters today at the village level who have undergone formal education and training. If you fall in this category then one can always opt for a SBI CSP Apply and build a career right at the village level. It is at these points that the village folk can get all the benefits of modern banking. They can open bank accounts and deposit cash. The villagers are also able to withdraw cash and even update the pass book. It is without having to visit the official bank branch; it is at the CSP point that village folk can avail all the benefits of modern banking.

A CSP point can cater to customers of multiple banks and alongside SBI, one can even opt for a PNB CSP Apply. However, there might just be confusion on what you gain from all of this. As someone deeply associated with the village, it sounds nice to participate in the economic boom of rural India and we would like to say that you also gain in the process. There are surely lucrative financial packages on offer for setting up these points deep inside the heartland. You get to earn commissions for business generated through such a point. We would like to say that the earning scope is broad based because the government allows you to sell a lot more than just formal banking from these points.

You can always use the point to sell insurance policies for Life Insurance Corporation of India. It does not end here and such a point is also allowed to sell IRCTC tickets. Hence, there is multiple earnings scope once you set up a CSP point for any of the RBI registered banks in the rural hinterland. The process to set up such a point is easy and if you have passed 10th standard, the first priority is achieved. One will require bare minimum documents and the first is an ID proof. You could submit a pan card or even an aadhar card but only the Xerox copy. It is alongside that you will need to submit a residence proof, police verification copy and a cancelled cheque. The cancelled cheque will allow the parent body to transfer the commissions to your account. These are some basics, which you must submit and then launch the CSP point amidst much fanfare at the village level.

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