CSP full form in Banking is Customer Service Point. They are also known as ‘Bank Mitra’ and function as a miniature Bank
These are agents or intermediaries of Banks who provide basic Banking services at locations where there is no availability of conventional Banks or ATM.
It helps both Banks and Borrowers. Through CSPs, Banks are able to reach out in remote areas where Bank branches are not available. To customers, it helps in performing basic bank tasks without travelling to far off areas,
Transactions on CSP are done through Kiosk which are bio-metrically secured. An acknowledgment receipt is generated for each transaction and has an end-to-end process.
Services provided by CSP
- Opening of Accounts like Saving, RD, FD, through Video KYC
- Fund Transfer, Cash Deposit and Withdrawal
- Balance Enquiry
- Applying for ATM Cards
- Linking of accounts with Aadhar card and PAN Card
- Aadhar enabled Payment services (AEPS)
- Applying for various schemes like , APY, PMJJBY, PMSBY
- Repayment of loan
Who can become a CSP Agent ?
- Age should be more than 18 years
- Must have a computer certificate
- Applicant should be a resident of same area where he wants to establish the CSP
- Applicant must have cleared 10thgrade
Documents required for CSP Registration
- 10 Passport size photographs.
- PAN Card, Aadhar card. Voter ID, Driving License
- Rent Agreement of the place where applicant wants to open the CSP
- Police verification Certificate/Character Certificate
- Educational Proof- 10thPass Certificate
- IIBF Certificate (Indian Institute of Banking and Finance.
What do you receive upon Registration?
Once registered you receive training to operate the system along with :
- One Computer with Bank Software
- Portal ID, KO ID ,Branch code
- Biometric reader and Software
- Certificate of Authorisation for being a Bank Correspondent
- Logo, Sticker and Templates of the Bank along with Bank Banner
