KIOSK BANKING – INTRODUCTION
                 Financial Inclusion is a very important tool to ensure that every citizen in the country becomes a part of the Country’s economy. The GDP is a result of the economic activities undertaken by the citizens plus the Government agencies in the country. If a large majority of the citizens remain outside the General economy, it can adversely affect the GDP. With this in mind many nations have gone in for Financial Inclusion in a big way.
                 How to make FI implementation successful: There are 3 players that are vital for FI, they are the Government, The Banks and the Insurance Companies: Of these the Government agencies and Banks are the first players – Those who will have to initiate and push forward FI. They have to ensure that the citizens are brought into the formal economic fold. Parallel economies are swept away and the common citizen is given formal banking and financial literacy in a very affordable cost. He should be weaned away from the parallel economy to which he is now bound.
How this can be done?
    Banking should be made available within easy reach of the citizen - For this the Business Correspondent model is the best choice for Banks as opening of brick and mortar branches in remote areas is not feasible.

    Therefore Kiosk Banking was introduced.

KIOSK BANKING – FACILITIES AVAILABLE
1. Opening of Savings Bank accounts for Minors aged above 10 years and for Adults.
2. Opening of Recurring Deposit accounts of various periodicities for FI Customers whose SB accounts already opened in KIOSK Banking. Premature closing allowed.
3. Opening of Special Term Deposit accounts of various periodicities for FI Customers whose SB accounts already opened in KIOSK Banking. Maximum Rs.50,000/- (Only one STD per customer permitted at a time). Premature closing allowed.
4. Aadhaar Enabled Payments System (AEPS) – Customers of SBI as well as any other Bank having Aadhaar linked SB account can deposit or withdraw up to a Maximum of Rs.20,000/- per day.
5. Card Based Transaction (RuPay Transaction) – Customers of SBI as well as any other Bank having debit card can withdraw up to a Maximum of Rs.20,000/- per day.
6. Immediate Payments System (IMPS) – Remittance facilities for SBI customers or any walk in customer to remit to any deposit account with any Bank - Maximum of Rs.5,000/- per day per beneficiary.
7. Money Transfer – Remittance facilities for SBI customers to deposit money in any SBI account - Maximum of Rs.20,000/- per day per account.
8. Social Security Scheme (APY, PMJJBY and PMSBY) – For FI Customer (Customer whose account is opened at CSP point)
9. Loan Repayment: Remittance to any Loan account with SBI including NPA accounts – Up to Rs.20,000/- per day per customer.
10. Green Pin Generation – Rupay Debit Card pin reset - For FI Customer (Customer whose account is opened at CSP point)