India’s largest lender, State Bank of India (SBI), has launched a new service that offers doorstep banking to senior citizens and differently-abled customers. As of now, this service is offered only to customers of select SBI branches. The statement by SBI also noted that this facility can be availed only by customers who are fully KYC compliant.
In exchange for this service, SBI will charge a nominal fee of Rs.100 per financial transaction and Rs.60 per non-financial transaction. To avail this service, account holders must have a valid mobile number and it must be registered with the bank account. It is also mandatory that the account holder must reside within 5 kilometers of the home branch that offers this service. SBI does not provide this service for joint accounts, accounts of minors, and non-personal accounts.
Some of the services offered under this facility include cash delivery, cash pickup, KYC documents pickup, cheque pickup, life certificate pickup, form 15H pickup, delivery of drafts, term deposit advice, etc. This service can be availed by registering for it at the home branch. To register for doorstep banking, disabled or infirm customers must provide a medical certificate with complete information about their condition to the bank.
Under this doorstep banking service, customers can withdraw or deposit up to Rs.20,000 cash per day. Customers can make withdrawals using their cheque or withdrawal form along with the passbook. Delivery of this service will be provided on the best-efforts basis. The bank has noted that this service will be provided within T+1 day.
In 2017, the Reserve Bank of India (RBI) issued a circular to provide doorstep banking to customers who cannot make to the branch office. The circular advised banks to provide basic banking facilities at the doorstep to senior citizens, disabled customers, and infirm customers due to the difficulties they face. Most banks in the country are yet to come up with a solution for doorstep banking service.
Source: Times of India