A Guide on The Process to Opt for A SBI CSP Apply

It is of late that there has been much enthusiasm amidst the rural educated youth regarding the CSP bank concept and you are surely a bit inquisitive. We would like to say that it is an initiative undertaken by the RBI to reach out with banking into the hinterlands of the country. There are vast areas of our country, which are yet to receive the benefits of formal banking. Hence, the savings of the rural folk in these areas fall prey to dubious chit fund companies. These savings go in waste and hence via the CSP model, the central bank is looking to make sure that the rural savings are reflected in the formal economy.

What precisely is it about?

The CSP Bank is a concept where the bank can appoint an official representative to offer banking services in such areas. The volume of banking transactions at these spots are significantly lower and it will not be profitable for the bank to set up a branch. However, the customer service point branch is about a single person representing a bank. It is normal that the cost of operations is significantly lower and the point can now see profits. The rural folk now come under the purview of formal banking and can participate in the growth story of India. You can set up the CSP point and earn handsome payouts in the process.

Can you set up a CSP point?

This concept offers a scope to earn money but without having to migrate to the big cities. Therefore, the concept is popular and you would love to opt for a SBI CSP Apply. The first point we would like to place here is that this income proposal is only for the unemployed youth. If you are jobless one can surely apply but provided you have basic computer knowledge. You will be operating a complete banking branch but on a smaller scale and hence computer knowledge is a basic criterion. One will also need to have retail space because this is your customer service point. There is a need to be careful while selecting this location and it must be at a significant distance from an official bank branch. You are sure to lose out on customers if an official bank branch is located in close vicinity. It is alongside you will need to place a police report to show that you have a clean track record.

What can you offer from the CSP point?

You should easily be able to meet this criterion and the SBI CSP apply should receive quick sanction. It is now you can offer comprehensive banking services to the rural folk. The brand of SBI will allow you to communicate confidently with the rural folk. One can help the villagers to open bank accounts and offer normal banking services. It is alongside there is scope to sell insurance policies for LIC and pension plans. The payout structure is lucrative and you can take home nice money. It is a nice career option for the rural educated youth.

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