Kiosk Banking Offers the Best Scope to Bring the Rural Households into the Formal Economy

The rural economy generates plenty of cash but one of the pitfalls is that only a small percentage of this earnings are till now reflected in the formal economy. It is the lack of formal banking systems in the interiors, which has resulted in such a scenario. The banks are yet to cover the hinterlands and perhaps you could not blame them much. Most of these areas have a low population density and bank management will find it tough to run a profitable branch. The government of India along with RBI was however not willing to let the situation slip out of hand. It is with the intent of bringing the rural folk under the formal banking system; they have looked to offer the concept of kiosk banking.

This is a unique concept and the theme is about setting up customer service points at various rural areas. The Kiosk Banking works on the agency model and one can set it up at a location, which has no formal bank in its close vicinity. The villagers can avail formal banking here and there is no need to visit an official branch. You can open bank accounts and deposit cash. It is via fingerprints that one can open bank accounts in this scheme. There is also the scope to withdraw money and one can even update the pass book. The agency premise is a customer service point and the individual in charge is a bank mitra. It is via such unique concepts that the rural folk can enjoy the benefits of associating with a formal bank.

As an educated youth from the village, we would encourage you to be a bank mitra at the local place. One can opt for CSP Bank Mitra Apply and we would like to say that it is not a social service. The commission payments for running such an outlet are lucrative and the banks pay you good commissions. It is primarily a banking outsource point, but we would like to say that the scope to do work is more. It is an outlet recognized by the government of India and therefore you can sell more government products. We would next like to point out that one can sell insurance policies for Life Insurance Corporation of India. Hence, alongside banking you are also bringing the villagers under the insurance cover.

We would like to add to this list that the outlet also has permission to sell IRCTC railway tickets. Therefore there is scope to offer a lot more to the villagers and you can always plan for a CSP bank mitra apply. Have you passed the standard ten examinations in school? If so the first step of the application process is complete. The next will be to opt for police verification and if that is fine, one will have to submit the papers. You will have to submit an ID proof, address proof and a cancelled cheque for the commissions to arrive. You can now operate completely as a bank mitra at the village level.

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