The Work of The CSP Bank Mitra BC is to enrol customers and enable the transactions of the customers at CSPs along with various other services like sourcing deposits and loan products for the various banks that are tied-up with Bank Mitra. The different technologies that can be adopted by the outlets of the CSP Bank Mitra BC to undertake the BC activities include Card Technology, Cell phone messaging technology and Kiosk Banking Technology.
In the Card technology, there are two vendors that the BC entity can choose from them to undertake the BC activities. The Smart Card, which is a card with a chip or a Chip-less or some plastic card can be used for the purpose. The transactions of the customers can be either online or offline. With the use of Card technology, the CSP Bank Mitra BC can enrol the interested customers and open a ‘No-Frills Account’ in two different forms, namely, Tiny Recurring Deposit accounts and Tiny Savings Bank to carry out the deposits and withdrawl activities. The customers can also open a savings bank account cum overdraft account which works just as the same as a savings bank account. When the customer uses the savings bank account for six months, he/she will be eligible for an overdraft also.
In the Kiosk banking technology, using the finger print capturing device and the internet connectivity is important. With this technology, the customer can open the No frills savings bank account easily.
Same way, for the cell phone messaging technology, any individual with a cell phone is eligible to open the No Frills account. But this technology is not available for the CSP Bank Mitra BC already and may be available soon.