How to Open a Bank CSP (Customer Service Point)?

To Open a Bank CSP / Customer Service Point (Centre) or to become a CSP / Bank Mitra / BCA / VLE (Village Level Entrepreneur) is a sound career option for the youth. Many youths are aspiring for this work and hence many so called “agents” have set up their network to take undue advantage of these gullible youths. Not only that, even amongst the authorized CBC companies, there may be some companies whose dealing with the aspiring candidates may not be transparent and support may be poor once you have joined as a BCA. Hence, it is utmost important to select a reputed CBC Company with a strong track record. If any person representing him/her as an authorized agent or employee of the CBC, it is always advisable to cross-check with the Head Office of the company about the credentials of such person. You can also apply online on the website of the Company or submit the application by email/post. Most importantly, any payment to be made in this connection, must be made by A/c Payee cheque drawn in favour of the CBC Company.

Eligibility criterion to become a BCA/CSP/Bank Mitra/VLE:

·        Age: Applicant must be at least 18 years of age.

·      Minimum educational qualification - 10th level examination passed from a recognized board.

·        Should have a valid Aadhaar and PAN number.

·        Must know the local language

·        Preference will be given to a local person

·        Must be computer literate

 Documents required with application:

 .   Application form duly filled in and signed by the candidate

.   Two passport size photos

.   Cancelled Cheque without signature

Self-Attested True Copy of:

-         Education certificate (Highest Education Qualification)

-         Proof of residence (Aadhar Card)

-         Photo ID Proof (Aadhar Card)

-         PAN Card

(the original is also to be produced only for verification by CBC Company)

Following documents to be produced as and when advised by the CBC Company:

-       Clean Police Report

-    The photograph of the place where the kiosk is to be set up (one photo from outside and one from the inside of the place). This is not required under tablet model.

-     Ownership document / Rent Agreement of the place for the kiosk This is not required under tablet model.

 Other pre-conditions:

ü     The branch with which the applicant wants to be linked must be willing to engage a BCA in the locality from where the applicant wants to operate.

ü    Must have necessary resources for purchasing required computer peripherals / tablet / internet connection / suitable space for setting up the kiosk / furniture (as per the specification / configuration fixed by the bank. Space / furniture may not be insisted upon under tablet model).

ü   The candidate has to pass the IIBF (Indian Institute of Banking and Finance, Mumbai) online certificate exam within specified period after the engagement as a BCA.

ü    Must have a bank account with Cheque Book facility

ü    Must be able to obtain clean Police Report from the Police Station having jurisdiction over the residential area of the applicant

ü   Must not be working as a BCA of any other bank

ü    If worked as a BCA of any bank in the past, must give acceptable reason why he ceased to be a BCA. This fact must be mentioned in the Application Form.

ü    Must have clean CIBIL (Credit Rating Agency) Report.

 How the application moves further:

As stated above, the CBC Company plays a vital role in engaging the BCA. The CBC has information about the branches which want to engage new BCA. Some time, CBC is looking for new BCA to fill up these vacancies.

After receipt (online or physical) of the application, the CBC will verify the documents, visit the applicant and the proposed place. CBC will also make discreet inquiry about the reputation of the applicant. CBC will introduce the applicant to the Branch Manager, who will also interview the applicant. The CBC will submit the documents to the Branch. If the Branch Manager is satisfied about the eligibility criterion and capability of the candidate, he will submit the proposal to higher authority for generation of BCA Code. After receipt of the Code, the CBC company will issue Authority Letter and ID Card to the applicant to work as a BCA.  CBC Company will also give training, product knowledge, Welcome Kit, etc.

With the nationalization of India’s 14 major banks in 1969, the seed of Social Banking (the term Financial Inclusion was not coined by then) was sown. The nationalization of banks in India is a glorious example of adaptation by commercial business houses from profit to public service without losing the commercial viability of the business. As usual to public sector, various committees have been appointed from time to time to achieve the objectives of nationalization. Khan Committee (2004) recommended to implement Business Facilitator (BF) model (for delivering non-financial banking services) and Business Correspondent (BC) model (for delivering financial banking services). As a result, the concept of Financial Inclusion was first introduced in India in 2005 by the Reserve Bank of India. The objectives of Financial Inclusion are to provide basic no-frills banking account for making and receiving payments. Later, Dr Rangrajan Committee (2006) went further and recommended to exploit BC model not only for delivering banking services but entire gamut of financial services (insurance, pension plans, investment, Financial Literacy, etc)  to financially excluded, vulnerable section of the society under Financial Inclusion Project and bring them into mainstream economy.

What is Financial Inclusion:

Financial Inclusion is the process of delivering appropriate financial products and services needed by weaker sections of the society at an affordable cost in a fair and transparent manner.

The present status:

There are 10 lakh BCAs working under the project as on March 2019 and delivering following financial services to customers in their vicinity:

Though the features of the Project differ from bank to bank to some extent, they can be generally described as under:

Services offered through BC Model are:

a.   Opening of Saving Banks (PMJDY)/ Fixed Deposit /PPF/ Recurring account.
b.  Cash Deposit and Cash Withdrawal.
d.   Fund Transfer from one centre to another centre
e.   Balance Inquiry.
f.   Mini Statement.

g.   Linking of Aadhar Card and Mobile Number

h.   Payment of utility bills

i.   Opening Insurance Accounts (Atal Pension Yojana, PMJSY, PMJJY, etc)

j.  Payment of amount credited by Govt under PMGKY, PMKSNY, MGNREGA, Cooking Gas Subsidy, other DBT, Student Scholarship, etc)

k. Canvassing the loan a/cs (Agriculture - KCC, Term Loans, Gold Loans. Non Agriculture – Housing Loans, Car Loans, Gold Loans, etc)

l.  Recovery in overdue /NPA a/cs as advised by the branch

How the Project works:

The most important link in the project is the Corporate Business Correspondent (CBC) which is generally a reputed company. The CBC is selected after a strict due diligence process considering the technical and financial capabilities and reputation of the company. The bank also obtains Security Deposit and /or Bank Guarantee from the entity. The CBC is accountable for all the acts and omissions committed by the BC engaged under it as per the Agreement between the bank and the CBC. This provision is very important for instilling the confidence amongst the customers while transacting the banking transactions with the BCA and maintain the integrity of the transaction from end-to-end.  The CBC is getting commission on the work done by the BC, which is shared with the BC as fixed by the bank. The scope of dispute about the commission payable to BCA is rare as it is calculated as per the rate fixed by the bank. The bank will credit the shar of BCA commission first and then credit the Company’s share through special accounting process.

Gujarat Infotech Ltd is working as a CBC Company since 2012 of various banks and has good reputation amongst banks, BCAs and customers. At present hundreds of BCs are working under our Company. 

To become CSP Bank Mitra visit our website www.gujaratinfotech.com 

To apply online, contact us at 8448444245 for more information. A small step in right direction will change your future.

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How can Computer Networking benefit your Business?

Now, practically no computer is used as a standalone machine – each computer is connected with some sort of a networking – intranet, internet, LAN, CAN, MAN, WAN, Wi-Fi, VPN, etc. In fact, computer without a networking has verylimited use.  The modern world generates stupendous quantity of information, generally called data in IT parlance. The businesses exploit the data, internal as well as external, for communication, marketing, administration, delivering services, taking commercial decisions, etc.

THE BENEFITS OF COMPUTER NETWORKING TO BUSINESSES:

Lower Cost of setting up a computer network:

Cost of networking is comparatively very small compared to other costs involved in a business. While considering the cost, the most beautiful aspect is its equal affordability from a family owned small unit to a Fortune 500 corporation.

Sharing the resources to reduce the cost:

Xerox Machines, Printers, Scanners, CD and DVD burners, Projectors, Cameras, Internet  Connection, Site (software ) licenses, Servers, Programmes, Data Storage Space, Files, etc can be shared by the employees leading to savings in terms of capital cost, recurring cost and space. Sharing of Internet connection, protected by a common firewall, with password-based log-in by the employees prevents the abuse of internet by the staff. 

Fast Communication:

All the stake holders can communicate very quickly or even on real time basis across the gadgets – computer, mobile, iPad, tablets, etc by voice or email. Fast communication is crucial between the employees and also with the customers, particularly when the businesses in Service Industry are dealing with customers.

Feasibility of wide variety of communications:

In olden days communication was confined to written communication or over telephone. Thanks to networking, now the mode and medium of communications are many e.g. emails, in-house magazines, voice call (VOIP), instant messaging, webinars, video conferencing, chatting, etc. Moreover, many of these communications could be garnished with colourful graphics, emojis, sound tunes, etc to strengthen the message.

Cheaper marketing tool:

Cost of communication is negligible when compared with traditional channels and modes. This aspect is fully exploited for marketing by businesses through Push Notifications and emails.

Remunerative business of e-Commerce/Online shopping:

Computer Networking is playing pivotal role from converting an inquiry till the goods are delivered at customer’s doorstep. For the customer it is a matter of few clicks, but for the online stores there is a cobweb of computer network for procurement, warehousing, shipping, receipt of payment, refund, Customer Care, etc. The success of many new start-ups can be attributed to their strong end-to-end computer networking.

Cyber Watchdog:

Managers and owners are always, and for right reasons, skeptical about what would be going on in their absence from the workplace. The computer networking with security camera helps the businesses to keep an eye on the floor even though they might be away from the workplace. This helps in increasing the productivity, preventing the pilferage, shoplifting, controlling undesirable behavior, etc. The awareness of the staff members that they are under the prying eyes of a CCTV makes lots of difference even though the output of the CCTV at the other end might not be monitored continuously.

Queue Management:

Networking is very useful for businesses which have to handle queues of customers and the issues related to heavy rush of customers. The real time data on queue helps the Manager to provide support to needy staff or open more counters. Such proactive steps delight the customers and the staff members.

Tracking the vehicles and goods:

With the help of GPS and mobile telephony, movement of vehicle can be tracked and monitored on computer network. When the goods are shipped through other agency, the movement of parcels can be tracked till it is delivered to the addressee.

Improving the visibility of your Brand:

Social Media is a popular platform to reach out to thousands of your target audience. Networking of I T infrastructure across the enterprise facilitate to exploit the Social Media. Regular posting of blogs, pod casts, tips, How to’s, listicles, etc helps to improve the brand visibility of your business irrespective of the size of the business.

Avoiding the duplication of work:

As data base is shared on network, the need to keyed in the same data by another staff is avoided. This helps not only saving time and cost but also helps in uniformity of data and reducing the errors in data. This also helps in following Standard Operating Procedure for a given task even though the task is distributed amongst different places and amongst employees with different level of capabilities.

Providing Remote Support/Access:

Remote Support by the specialist can be provided to solve the technical problem with the system or install new software in computers connected with the network. This also helps when the desk of the employee is shifted without shifting his computer or in “Work from Home” scenario.

Centralized Data Backup:

For data protection and retrieval in case of exigency, Centralized Data Backup can be taken as per the scheduled time cycle or as and when required. Access to the data can be also monitored with graduated permission to access the data.

Better Customer Service:

If the data are available on enterprise network, no staff member will be required to collect from the customers the information about the dealing / transaction the customer has had. Networking will also facilitate the co-ordination between various departments or branch offices to resolve the customer complaints.

Better adaptation to new challenges:

Business environment is becoming very dynamic. To adapt the business processes as per the market conditions is a key to survival. Computer networking facilitates the upgradation or change altogether the business processes in consonance with the technology and products.

Conducive Work Environment:

Networking of computers in the business increases the productivity of the employees and lowers the cost of operations. It inculcates the habit of collaboration and team spirit. Employees feel that they are doing the work smartly and enjoy doing it. The amount of job satisfaction derived at the end of day is very high leading to better perception about the company. 

When computer was invented, it was invented as a standalone calculating machine. At that time, even the most futuristic fictional article on computer had never envisioned its capabilities what we are exploiting today. Largest chunk of the credit of these capabilities can be attributed to networking. 

As such, real time transmission of data across the enterprise is very important for the success of the business. The backbone of  real time transmission of data is networking which could be as small and simple as linking two gadgets in a room or as  large and complex as linking the people across the globe involving various technology, medium, devices, platforms, deliverables, speed, security, protocols, etc. The above blog seeks to discuss the benefits of networking to businesses.

The readers can email their comments, if any, to the blogger at gnpatel@gujaratinfotech.com).

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