Door Step Banking - Opportunities And Challenges

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

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?