Date: June 28, 2019
Team UBA, IIT Roorkee, in support of the State Bank of India, established SBI Kiosk bank (mini bank) in Horawala village. Earlier, the nearest bank for Chandpur and Horawal cluster of villages was 12 km away. Thus, villagers faced problems in monetary transactions. Many villagers preferred to keep their financial assets within their house rather than depositing in the bank. SHGs of Chandpur and Horawala village were facing problem in continuing their work as banks play an important role in their proper functioning.
Initially, Team UBA approached SBI branch at Dehradun to be sound about the procedures to set up a Mini Bank. They informed about different private organizations which have tied up with SBI to set Mini Banks.
Technicalities were discussed for collaboration and a private organization. Drishtee (a private organization) was roped in to set up the mini bank. The mini bank was inaugurated on June 28, 2019, with the assistance of local bank employees of SBI Sahaspur.
The SBI Kiosk banking (mini banking) provides the following services: - Deposit of Cash - Withdrawal of Cash - Money transfer to another Bank and SBI/BC account holder in other locations - Loan disbursement - The Current limit of Rs 20,000 per day per bank account holder - Benefits for Retailer - New Revenue Stream from Mini-Banking - Easy Money Transfer - Even an existing SBI account holder can be the customer - Significant benefits from Digital India on other services - Increased customer footfall - Trusted source for money transfer with a strong brand name SBI