FM Nirmala Sitharaman Launches Doorstep Banking Services For Public Sector Banks | 5 Points

Public sector banks (PSBs) will now provide doorstep banking service that will bring convenience of banking services to the customers at their homes through the universal touch points of the call centre, web portal or mobile app.

(Image: Twitter/FinMin)

New Delhi: In a big relief for consumers amid the ongoing Coronvirus pandemic and to ease the risk of stepping out, the Central government on Wednesday launched doorstep banking services for public sector banks in order to provide hassle-free convenient banking. As part of the EASE Reforms, public sector banks (PSBs) will now provide doorstep banking service that will bring convenience of banking services to the customers at their homes through the universal touch points of the call centre, web portal or mobile app. The new service was inaugurated by Finance Minister Nirmala Sitharaman while participating in a virtual awards ceremony organised to felicitate best performing banks on EASE Banking Reforms Index.

Finance Minister Smt. @nsitharaman launched PSBs #DoorstepBanking Services! Improved access for hassle-free and convenient Banking. A citizen friendly initiative!

FM also declared EASE 2.0 Index results.#EASE #DoorstepBanking #PSBReforms pic.twitter.com/DE1W1AhqIP — Ministry of Finance (@FinMinIndia) September 9, 2020

"As part of the EASE Reforms, Doorstep Banking Services is envisaged to provide the convenience of banking services to the customers at their doorstep through the universal touchpoints of Call Centre, Web Portal or Mobile App. Customers can also track their service request through these channels." said the official press release by Union Finance Ministry. Here are the highlights of doorstep banking services: 1. The doorstep banking service provides customers an interface with the bank through various touch points and also enables them to track their service request through these channels. The services are rendered by the Doorstep Banking Agents deployed by the selected service providers at 100 centres across the country. 2. Currently, only non-financial services such as pick up of negotiable instruments (cheque/demand draft/pay order, etc), of a new cheque book requisition slip, of various forms, request for account statement, delivery of non-personalised cheque book, delivery of term deposit receipt, acknowledgement, etc, delivery of TDS/Form 16 certificate issuance etc are available to customers. 3. The concept of doorstep banking services was initially suggested by the Reserve Bank of India (RBI) a few years ago and several public sector banks mutually decided to appoint a common service provider to facilitate this to all their customers. 4. Financial services shall be made available from October which can be availed by customers of public sector banks at nominal charges. The services shall benefit all customers, particularly senior citizens and the differently-abled. 5. The services will include delivery of non-personalised cheque book; term deposit receipt; acknowledgement; TDS / Form 16 certificate issuance; and pre-paid instrument / gift card. Even cash pick up and delivery will also be available for customers. The services, which will be interoperable among these banks, will be gradually scaled up beyond the 100 locations.