SBI CSP

NICT-CSP made an introduction into the much-required Inclusion sector with India’s leading bank, State Bank of India in 2014. Through this partnership, we deliver primary financial services to people in India who don’t have a way into banks by making use of remote technology with biometric support for kiosk Banking.

NICT-CSP Retailers are being chosen as Business Correspondents to the State Bank of India for conducting banking transactions representing SBI. This technology is backed by NICT-CSP. It is an Internet-powered PC technology and very user-friendly. As a consequence, anyone can become a Business Corresponded (BC) and open customer accounts at Customer Service Point Kiosk outlet (CSP).

SBI Kiosk transactions are bio-metrically protected. Printed recognition for every transaction is given to the consumer and has a top-to-bottom procedure for account opening & online transactions. Micro savings and Micro remittance are performed via No Frills Savings Bank Account at NICT-CSP Kiosks.

NICT-CSP Retailers can now be chosen as Customer Service Points for Business Correspondents to State Bank of India and conduct transactions representing SBI. Become a CSP/Business Correspondent for State Bank of India Kiosk Banking and elevate your earnings. This is a great business opportunity to perform State Bank of India Kiosk Banking in your Retail Outlet. You, therefore, become a small-branch of the State Bank of India, the country’s leading Bank.

Benefits for Retailers:

  • Earn extra money by offering mini-banking services.
  • Easy money transfer options.
  • Even people who already have an SBI account can use your services.
  • More customers will visit your store.
  • Trustworthy money transfer service backed by the well-known SBI brand.

Benefits for Customers:

  • Open a bank account without having to keep a balance.
  • Maximum balance allowed is Rs 50,000 (if customer provides KYC within 12 or 24 months).
  • Customers can also open an account under PMJDY with KYC and have a limit up to Rs 12 lakhs.
  • Transaction limit is Rs 10,000 per day.
  • No cheque book is given.
  • Only the account holder can do cash transactions.
  • No fees for using the account.

Other benefits include:

  • Loans for home, property, car, or gold (coming soon).
  • Loans for small businesses (coming soon).
  • Credit cards for general use or for farmers (coming soon).
  • No-frills SBI savings account.
  • Investment options like mutual funds (on referral).
  • Loans against savings like Term Deposits, NSC, or KVP.
  • Longer banking hours (usually from 8:00 AM to 8:00 PM).
  • ATM card available for customers over 18 years old.
  • Small savings through RD (Recurring Deposit) options.
  • Support for Self Help Groups (SHG) for business opportunities.

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