State Bank of India (SBI) has taken a significant stride in enhancing financial inclusion by launching a mobile handheld device, aimed at bringing a range of banking services directly to the customers. The move is particularly beneficial for senior citizens, Divyangjans, and others facing difficulties accessing bank branches or customer service point outlets due to health concerns.
The device introduced on Wednesday offers five essential services—depositing and withdrawing cash, checking balances, fund transfers—that make up 75% of customer service point transactions. The initiative is seen as an opportunity to expand the reach of core banking services, according to SBI's Dinesh Khara.
In addition to these services, the mobile device provides customer service point agents the ability to deliver kiosk banking to health-challenged, senior, and differently-abled customers. This new method of service delivery is expected to enhance financial inclusion by making banking more accessible to these segments of the population.
Looking ahead, SBI plans to further expand its service offerings on the mobile handheld device. The bank intends to incorporate account opening, remittance, and card-based services shortly. There are also plans in place for enrolments under social security schemes, further broadening the scope of services available through this innovative platform.
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