SBI broadens banking operations

The State Bank of India (SBI) has taken a significant step towards enhancing financial inclusion by launching a mobile handheld device that aims to bring various banking services directly to customers, particularly benefiting senior citizens, Divyangjans (people with disabilities), and others who face difficulties accessing bank branches or customer service points due to health concerns.

This mobile handheld device, introduced by SBI, offers five essential banking services, which together constitute 75% of customer service point transactions. These services include:

  • Depositing cash.
  • Withdrawing cash.
  • Checking account balances.
  • Fund transfers.

This initiative is viewed as an opportunity to expand the reach of core banking services and make them more accessible to a wider range of customers.

In addition to these services, the mobile device empowers customer service point agents to provide kiosk banking services to health-challenged, senior citizens, and differently-abled customers. This innovative approach to service delivery is expected to enhance financial inclusion by ensuring that banking services are more readily available to these specific segments of the population.

SBI also has plans to further expand the range of services offered through the mobile handheld device. The bank intends to include services such as:

  • Account opening
  • Remittance services
  • Card-based services

Additionally, there are plans in place to facilitate enrolments under various social security schemes, further broadening the scope of services available through this innovative platform. These efforts align with SBI’s commitment to advancing financial inclusion and making banking services more accessible to all segments of the population, including those who face mobility or health-related challenges.

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