What is Grahak Seva Kendra and how does it work? Understand the Bank CSP Process

India is making strides towards a cashless society. However, a large portion of India’s population is still without basic banking services. While banks have attempted to address these issues, there are many marginal workers, migrants, and residents of remote areas that are still in need of basic banking services. This large portion of the population has been included in the financial system, and basic banking facilities have been provided by the government.

One such initiative is GrahakSeva Kendra, or Customer Service Point (CSP), which was launched under the Digital India Program. We will be discussing customer service provider (CSP), and how to apply to bank csp.

Let’s now look at the meaning of CSP.

Customer Service Point (CSP)/ Grahak Seva Kendra.

The CSP, or customer service point, is a key initiative for financial inclusion. CSP is also known by Grahak Seva Kendra. SBI CSP is a mini-bank for customers. CSP allows people to gain access to banking services that were previously unavailable. CSP provides all the basic services that a standard bank offers. Grahakseva Kendra, or (CSP), was established to provide banking services to remote areas that do not have access to banks or are not able. CSP is a great help to migrant workers and workers who sometimes have difficulty accessing banking services.

Bank CSP Functions

The customer service point functions are identical to any bank, such as:

• E-KYC (know Your Customers) allows you to open a bank account.
• Money withdrawal/deposit
• Transfer of money via the Facility of Money
• Fixed Deposit and Recurring Deposit Facility
• Ability to link your bank account with Aadhar Card and PAN card
• These Bank CSPs Providers also offer insurance services.

Visit E-Governance CSP website to apply for bank csp provider.