SBI Mini branch is a banking outlet that is run by non-banking individuals i.e private entities with the permission of SBI Bank, RBI Bank, and area business correspondents to carry out day-to-day banking functions like SBI bank account opening, cash deposit, cash withdrawal, money transfer, Aadhar card seeding, various government financial inclusions, generating leads for loans, etc. in the rural, scattered and backward areas of India.
Thus SBI CSP is an agent of the centre who is entitled to provide branchless banking services to the citizens in absence of SBI bank.
SBI CSP or SBI customer service point is an innovative approach by the RBI bank to bring financial inclusion in the country and for opening the doors of income opportunities amongst the rural youth of the country.
Here is how you can start with your own SBI Mini branch in rural parts of India:
Any individual above 18 years of age can apply for an SBI Mini branch with a simple application form. The entire procedure of making SBI CSP registration can be tedious and lengthy, however, once the SBI CSP application gets filled out successfully the process becomes very automated and smooth.
In order to file an SBI CSP registration form, one needs to file the application with relevant government-issued identity cards and other required documents on the website.
Documents required to apply for SBI CSP/ SBI Mini Branch
- Aadhaar card
- Pan card
- License (Not essentially required)
- Property papers (Of where you are intending to start the business)
- Educational qualification certificate/ degree (10+2 is compulsory)
- Computer skills certificate (Not essentially required)
Where to file the SBI CSP registration application?
One should visit their nearest area business correspondent and file their SBI CSP registration with them along with all the required documents (preferably first copy or original documents)
After successfully filing the application form with the area business correspondent, they will inspect and verify all the documents and check if there is any need for CSP in the applied area.
If the BC (Business correspondent) accepts your SBI CSP application, then you will receive a letter for the same. Later the applicant will receive formal training from SBI bank to carry out day to day activities of the bank.
Can your SBI CSP Application get rejected?
Yes, your SBI CSP application can get rejected if your form is incomplete, if there’s any issue in documents, or if the SBI bank is not willing to give an SBI Customer service point in the applied location. Apart from these, there can be many other reasons for your form getting rejected.
Benefits of Starting an SBI Mini Branch in Village
Starting an SBI mini branch in your village offers numerous benefits, some of which are:
- Increased access to banking services for the rural population
- Increased financial literacy and awareness among rural residents
- Improved economic development in the village
- Creation of employment opportunities in the village
- Increased deposit mobilization and credit flow in the rural areas
1. What is the eligibility criteria for starting an SBI mini branch in a village?
The eligibility criteria for starting an SBI mini branch in a village include having a population of more than 2,000 people, a good reputation in the village, a minimum of 5 years of experience in banking and financial services, a secure and spacious place to set up the branch, and the necessary equipment and infrastructure to run the branch effectively.
2. What are the benefits of starting an SBI mini branch in a village?
The benefits of starting an SBI mini branch in a village include increased access to banking services for the rural population, increased financial literacy and awareness, improved economic development in the village, creation of employment opportunities, and increased deposit mobilization and credit flow in the rural areas.
3. How can I apply for starting an SBI mini branch in a village?
To apply for starting an SBI mini branch in a village, you need to contact SBI and express your interest. You then need to submit the necessary documents and complete all the required formalities.