Bank Bazaar BC made a foray into the much needed Financial Inclusion sector with India’s largest bank, State Bank of India in 2011. Through this partnership Bank Bazaar BC delivers mainstream financial services to the bank-excluded masses of India using remote- biometric enabled Technology for Kiosk Banking.
Bank Bazaar BC Retailers are being appointed as Business Correspondents to State Bank of India for carrying out banking transactions on behalf of SBI. This technology is powered by Bank Bazaar BC. It is an Internet enabled PC based technology and extremely easy to use. Therefore anyone can become a Business Correspondents (BC) and open customer accounts at Customer Service Point Kiosk outlet (CSP).
SBI Kiosk transactions are bio-metrically secured. Printed acknowledgment for each transaction is issued to the customer and has end-to-end process of account opening & online transactions. Micro savings and Micro remittances are done through No Frills Savings Bank Accounts at Bank Bazaar BC CSP Kiosks.
Bank Bazaar BC Retailers can now be appointed as Customer Service Points for Business Correspondents to State Bank of India and carry out banking transactions on behalf of SBI. Become a CSP/ Business Correspondent for State Bank of India Kiosk Banking and boost-up your earnings. This is a business opportunity to do State Bank of India Kiosk banking in your Retail Outlet. YOU, therefore, become a Mini-Branch of State Bank of India, the country’s largest Bank. This technology is powered by Bank Bazaar BC .
What Services will SBI Kiosk banking provide?
The SBI Kiosk banking will provide the following services:
- Deposit of Cash
- Withdrawal of Cash
- Money transfer to another Bank and SBI/BC account holder in other locations
- Loan disbursement (This Service is yet to start)
- Current limit of Rs 20,000 per day per bank account holder
Benefits for Retailer
- New Revenue Stream from Mini-Banking
- Easy Money Transfer
- Even an existing SBI account holder can be your customer
- Significant benefits from Bank Bazaar BC on other services
- Increased customer footfall
- Trusted source for money transfer with a strong brand name SBI
Earnings for Retailer
A CSP earns on Opening New Account and on Every Cash Deposit/ Cash Withdrawal/ Loans and Money Transfer.
Benefits for Customers
Customers can get a ‘No Frill SBI Accounts’ -A No-frills account is a paperless account with:
- Minimum Balance -No minimum balance is required to be maintained in the account.
- Maximum balance can be Rs 50000. (Balances above this can be held, but then account is converted to a regular bank account and the terms of the bank and documentations will apply to these accounts).
- Maximum limit of transactions is Rs20,000/- per day.
- Cheque book is issued
- Only the concerned account holders can do the cash transactions.
- As defined by the word “NO FRILL”, there is no need to fill forms and sign. Electronic thumb impression is used on biometrics to access/use the account.
- No charges levied to operate account.
Other Benefits include:
- Home Loans/ Loan Against Property (Feature yet to be updated)
- Auto Loans/Gold Loans/Small & Medium Enterprise (SME) Loans (Feature yet to be updated)
- General purpose Credit Card (GCC)/Kisan Credit Card (KCC)
- No Frill SBI Saving Bank Account
- Mutual fund on a Referral basis
- Loans against Term Deposit Receipt (TDR)/ National Saving Certificate (NSC)/Kisan Vikas Patra (KVP)
- Also Bank Bazaar BC gives a FREE Personal Accident Insurance Policy of Rs. 10,000* for every account holder. * T&C apply.
- Long banking hours: As long as the retail outlet is open (usually 8:30 am to 9:00 PM)
- Additionally, access to withdrawal of money through ATM card is provided to every customer above 18 years of age.
- To promote business opportunity through SHG (Self help group)
- Customer can also make small saving separately through RD remittance facility.
How to Register as a CSP?
Bank Bazaar BC will enrol you as a Customer Service Point (CSP) with SBI. This facility and partnership is only available for Bank Bazaar BC New / existing retailers with PC/Laptop, Printer, Web cam & Web connectivity.
Existing Retailers appointed as CSP will work directly or under the RMU tree as per the existing arrangements with Bank Bazaar BC. If you are new to Bank Bazaar BC, you first enrol for an Bank Bazaar BC Web Retailer and then apply for SBI Kiosk Banking, as a Non-Bank Bazaar BC Retailer cannot be appointed as a CSP. Please follow the below steps for registering:-
- Retailer needs to fill in an application form by downloading from:
- Send the duly filled form along with required KYC Documents to
- This form will go through verification and approvals and once validated, the CSP is informed about the status of their request. If the form is accepted, the CSP is trained.
- Post training, the CSP can start transacting.
The CSP has to meet the following Infrastructure requisites for the enrolling for this Service:
- Size of Outlet: : Minimum 200 sq feet and must have a counter. There must be adequate room to attend to 5-6 customers at a time. This is essential to provide efficient and courteous service to the customers and at the same time attend to your regular business.
- System configuration: PC with a minimum configuration of 20 GB hard disk, Internet connectivity, an Intel base chip or of superior provider, a web cam, a standard printer and Finger print scanner.
Following facilities are provided to the new CSP:
- Biometric Reader and Software for electronic thumb impression- Bank Bazaar BC Property
- SBI Bank Account ID and Password
- Software for access to SBI network
- Sign board with Bank Bazaar BC and SBI logo with retailer shop registered name (at the bottom of GSB)-Bank Bazaar BC property
- Commission and Special incentives from Bank Bazaar BC
- Swipe machine
- Lazer printer
- Digital Banner
- For any further queries, email:-email@example.com
Become a CSP Agent Today
You may apply to become Bank Mitra for State Bank of India, Bank of Baroda, Bank of India and Punjab National Bank.