We Provide Service for only State Bank of India, Bank of Baroda, Punjab National Bank, Union Bank of India, Allahabad bank
Banking Correspondents (BCs) are individuals/entities engaged by a bank in India (commercial banks, Regional Rural Banks (RRBs) and Local Area Banks (LABs)) for providing banking services in unbanked / under-banked geographical territories. A banking correspondent works as an agent of the bank and substitutes for the brick and mortar branch of the bank.
Bank CSP / Customer Service point
Customer Service Point: It is a banking outlet run through outsourced agency for carrying out limited transactions and sourcing of business. Jandhan Accounts, tiny RD accounts, Atal Pension Yojana, Pradhan Mantri Insurance Schemes are opened here. Customers can also withdraw and deposit money at CSPs.
A retailer can open a no-frills bank account for a customer by recording fingerprint details and taking a photograph of the customer. The details along with other documents are forwarded to the affiliated bank branch to carry out the know-your-customer process. Once the account is up, a customer can withdraw, deposit or remit a maximum of Rs 10,000 per day through the internet-enabled kiosk branch.
A cash withdrawal requires converting the holdings of an account, plan, pension or trust into cash, usually through a sale, while an in-kind withdrawal simply involves taking possession of assets without converting to cash
In the world of finance, a cash deposit is defined as money that is injected into a checking, money market or savings account, either via money transfer, ATM machine or through a bank teller. In simple terms, a cash deposit is money placed in a financial institution for protective custody.
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