IDBI brings kiosk banking to rural India

IDBI Bank India has launched kiosk banking services in villages in order to reach out to the rural masses.

IDBI Bank India has launched kiosk banking services in villages in order to reach out to the rural masses.

Banking kiosks use biometric verification and allow customers to access a variety of basic banking services such as deposit of cash, withdrawal of cash and money transfer without having to go through a teller channel.

The bank claims this will bring about greater financial inclusion, bringing rural people into mainstream banking more efficiently.

Similar schemes have been rolled out by several other banks around the world including NCB bank in Jamaica and FNB South Africa. The move has been in aid of easing the pressure on contact centers, improving efficiency and creating more access opportunities.

IDBI bank was established in 1964 in order to provide credit and other facilities for the development of the fledgling Indian industry by Act of Parliament. According to IDBI it is the fourth largest bank in India in terms of reach with 1,213 branches and 2,090 ATMs across the country.

Related articles:

ICICI allows payment and collection of taxes in branches and online in Indian Odisha state

State Bank of India may cut losses on ATM network by charging for transactions

India’s Uco Bank plans to expand Iranian banks accounts: Report