Saturday 21 May 2022
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Kisan Kendras to be SBI’s biz correspondents

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New Delhi: The Minister of State (I/C) for Petroleum and Natural Gas Dharmendra Pradhan informed the Lok Sabha in a written reply today that Indian Oil Corporation Limited (IOCL) has set up 6,811 Kisan Seva Kendras (KSKs) in rural and remote areas in the as on 01-10-2016.

A Memorandum of Understanding (MoU) has been signed between IOCL and State Bank of India (SBI) on 13-07-2016 to set up SBI Customer Service Point at IOCL’s  Kisan Seva Kendras  by appointing KSK dealers as business correspondents of SBI.

SBI has launched a called Customer Service Point, which is operated by appointing business correspondents who, as intermediaries, provide banking services to the financially excluded at an affordable cost. These are services like the opening of small accounts, flexible recurring deposits, special term deposits, overdrafts, cash deposits/withdrawals/deposits in loan accounts, remittances, other services, Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Jeevan Suraksha Yojana, Atal Pension Yojana, direct benefit transfer, immediate payment service, insurance products etc.

The SBI will utilise its network to reach various banking services through business correspondent at IOCL KSK.

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