SBI opened up Kiosks

SBI recently launched first of its kind facility in India which would enable poor workers and small businessmen slogging in urban areas to open a bank account with just one rupee. Small amounts can be deposited, interests can be earned and all services offered by the bank can be assessed under the new initiative. SBI introduced biometric smartcards to operate the new facility. 20 kiosks called Customer Service Points (CSPs) were started in Hyderabad with the urban poor being the target population. The kiosks would function like a mini bank branch with a business correspondent (BC) available on all working days. The BC would be equipped with a laptop which would be connected to the SBI's core banking network. A censor would be used to recognise the fingerprints on biometric cards for identification purposes. This initiative is a part of national rollout of CSPs by SBI in association with Geosansar, which is SBI’s business correspondence partner.