The Kiosk Banking is the initiative taken by the RBI for those living in villages or other remote areas who are deprived of banking services due to the non-availability of a bank branch in their locality. In such arrangement, the person is not required to go the bank to avail the banking services. Instead, the bank comes to the village where the person can make the transactions.The Banking services like, Account opening, cash deposit acceptance and cash withdrawal etc.
Kiosk banking is the important step taken towards the financial inclusion. The financial inclusion means enabling the weaker sections of the society or low-income groups to access financial services and avail the credit at a low or affordable cost. The Kiosks are the small internet-enabled booths established in the villages where the customers can come and avail the basic banking services.The Banking services like, Account opening, cash deposit acceptance and cash withdrawal etc.
The idea behind the functioning of the kiosk is that it should be supported by the banks in private, public and cooperative sectors through the use of shops. These acts as a touch point between a bank and the customer where the banking services such as deposits, withdrawals, remittances apart from the micro-credit, insurance, and overdraft services could be delivered.The Banking services like, Account opening, cash deposit acceptance and cash withdrawal etc.
Bank offers loan against Recurring Deposit held in the bank.
The product has been designed to provide customers Money Transfer services with great convenience in their neighborhood.
Government of India has initiated a number of social security schemes to boost the financial stability of its citizens
E-KYC is a process which electronically verifies your personal details and photo identity.