Banking Kiosk/Kiosk Banking

State Bank of India & Bank of India

  • At present there are around 31 Crore savings bank accounts in India.
  • Number of actual account holders is not more than 20 Crores.
  • 83% People in India still do not have savings bank account.
  • State Bank of India is the largest Bank with over 15000 branches.
  • State Bank Group is having around 20000 branches.
  • Bank of India is having over 3000 branches across India.
  • Manglam Village in Pondicherry became the First village in India where all households were provided Banking Facility.
  • In Jan 2006 RBI permitted Banks to engage BCs for setting up Banking Kiosk.
  • Relaxations have been made in KYC norms for opening accounts under Kiosk Banking.
  • RBI’s vision for 2020 is to open 600 million new customer accounts.
  • A designated official from the bank’s link branch has to visit the ultra small branch / Kiosk branch at least once a week.
  • Unbanked Villages have been identified / earmarked under the Financial Inclusion Plan (FIP) by Ministry of Finance GOI ,where banking services are to be made available by way of a brick and mortar branch or any IT based model ( Kiosks).

Eligibility for Banking Kiosk :-

  • Should have minimum 100 / 150 Sqft area.
  • Must be above 18 years and should have entrepreneurial skills.
  • Zeal of taking community and people together.
  • Minimum 12th pass with basic knowledge of computers and internet.
  • Should have pleasant personality and friendly communication skills.
  • Should have or be in a position to procure one Computer, Printer, UPS & internet facility.

Banking Kiosk Benefits :-

  • Hassle free opening of savings account.
  • Less KYC documents.
  • No Queues.
  • No Travel expenses
  • Easy deposits, withdrawals & cash remittances.
  • Easy opening of R.D. & F.D Account.
  • Deposits can be made from anywhere.
  • Transfer Subsidies , Scholarships and other Benefits can be directly credited to the account

Banking Kiosk/ Kiosk Banking Investment

Investment - Rs. 20,000/-
  • Identification, training and orientation fee including taxes Rs. 17,200/-
  • Biometric device with taxes Rs. 2,800/-
  • Apart from above the SDP (Kiosk Owner) should have computers, printers, UPS, furniture & fixture, small space for 100 to 150 sq. ft.