Door Step Banking - Opportunities And Challenges
BANKING FINANCE|August 2022
Doorstep Banking [DSB] is one of the key action points of the roadmap for banking reforms under the EASE (Enhanced Access & Service Excellence) Reforms brought out by the Department of Financial Services, Govt of India. Initially it was meant to give service to senior citizens and person with disabilities.
Chithra Rajagopal
Door Step Banking - Opportunities And Challenges

What is Doorstep Banking ?

Then in September 2020 Union Finance Minister Smt. Nirmala Sitharaman launched the prestigious project of Door Step Banking for all PSBS at 100 centers across the country. The new company called PSB Alliance Pvt Ltd is set up to engage banking correspondents on behalf of the 12 public sector banks under a common standard operating precedure (SOP) to provide financial and non financial services directly to customer homes.

[PSB Alliance is an umbrella setup of all 12 Public Sector Banks, jointly offering important customer oriented services envisaged by Govt. of India under EASE of Banking reforms.] PSB Alliance comprising 12 Public Sector Banks being anchored by UCO Bank, jointly, have engaged M/s Atyati Technologies Pvt. Ltd. & M/s Integra Microsystem P Ltd to provide "Door Step Banking through Universal Touch Points" facility to customer(s) of 12 PSBS Banks in 60 & 40 Specified Centres respectively) within the norms stipulated by PSB Alliance/ RBI.

What are the services available in DSB?

The services offered under DSB vary from bank to bank. As of now, 10 non-financial services and one financial service [cash withdrawal] is available in DSB services of most of the public sector banks. [www.psbdsb.in]. Few Public Sector Banks [Eg. SBI, from January 2021 onwards] offer Cash Deposit service too.

And Submission of Digital Life Certificate facility is also available in Door Step Banking. Using Jeevan Pramaan App, DSB Agent will visit the doorstep of the customer and collect online life certificates.

How can a customer avail this service?

The 'Universal Touch Points' through which DSB services can be accessed are Mobile App, Web Portal [www.psbdsb.in] and Call Centre.

App: Door Step Banking [DSB] App available in App Store and Google Play Store.

Web Portal: www.psbdsb.in

هذه القصة مأخوذة من طبعة August 2022 من BANKING FINANCE.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة August 2022 من BANKING FINANCE.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من BANKING FINANCE مشاهدة الكل
Fraud Risk Management In Banking
BANKING FINANCE

Fraud Risk Management In Banking

Fraud risk management is a fundamental aspect of overall Risk Management within the banking sector. In India, banks adhere strictly to guidelines set forth by the Reserve Bank of India (RBI) to prevent, detect, and promptly report fraudulent activities.

time-read
6 mins  |
October 2024
Will Brick-andMortar Banks Get Schooled by FinTech Startups? The Talent War for India's Banking Future
BANKING FINANCE

Will Brick-andMortar Banks Get Schooled by FinTech Startups? The Talent War for India's Banking Future

The Indian banking sector is on the cusp of a transformation. FinTech startups are revolutionizing the industry with innovative products, seamless digital experiences, and a culture of agility. But this disruption extends beyond just technology.

time-read
4 mins  |
October 2024
Beyond the Rate Hike: Understanding the effects of Monetary Policy Tightening in India
BANKING FINANCE

Beyond the Rate Hike: Understanding the effects of Monetary Policy Tightening in India

Globally Inflation started rising post April 2021 and went above the target range set by most of the Central Banks. It had remained low and dormant for a substantial duration since the global financial crisis. CPI inflation in developed countries such as US, UK and Euro zone, began to exceed their traditional target of 2% and continue to stay at these elevated levels till recent time.

time-read
10+ mins  |
October 2024
MSMEs - The Unsung Heroes of India's Economic Journey
BANKING FINANCE

MSMEs - The Unsung Heroes of India's Economic Journey

Micro, Small, and Medium Enterprises (MSMEs) are the lifeblood of India's economy, contributing significantly to GDP, employment, and exports. Their ability to adapt, innovate, and create opportunities has propelled India towards becoming a global economic powerhouse.

time-read
10 mins  |
October 2024
The Role of Sustainable Marketing in Modern Business Practices
BANKING FINANCE

The Role of Sustainable Marketing in Modern Business Practices

The landscape of business is evolving with a growing emphasis on sustainability. Sustainable marketing, which integrates environmental and social responsibility into business practices, is gaining traction as a critical approach for companies aiming to align with the values of modern consumers.

time-read
3 mins  |
October 2024
Transforming Indian Banks: How Generative AI is Redefining Marketing
BANKING FINANCE

Transforming Indian Banks: How Generative AI is Redefining Marketing

In the fast-paced world of finance, marketing strategies have evolved greatly, using the latest technologies to effectively reach and engage customers. Among these technologies, Generative Artificial Intelligence (AI) stands out as a game-changer.

time-read
5 mins  |
October 2024
Legal News
BANKING FINANCE

Legal News

No GST on Fines and Penalties Collected by RBI, Rules Maharashtra AAR

time-read
2 mins  |
October 2024
Frauds in Banking Sector and Role of AI in Fraud Management
BANKING FINANCE

Frauds in Banking Sector and Role of AI in Fraud Management

The banking sector, a cornerstone of the Indian economy, plays a critical role in driving financial inclusion and stability. However, it has not been immune to fraudulent practices, which jeopardize not only the financial institutions but also the trust of the populace.

time-read
4 mins  |
October 2024
RBI CIRCULAR
BANKING FINANCE

RBI CIRCULAR

Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit

time-read
4 mins  |
October 2024
Banking and Financial Services: Paving the Way for India's Development
BANKING FINANCE

Banking and Financial Services: Paving the Way for India's Development

The adoption of digital payments through platforms like the Unified Payments Interface (UPI) has made cashless transactions a norm. The rapid growth of fintech has democratized access to financial products, making it easier than ever for people across the country to manage their finances.

time-read
2 mins  |
September 2024