Doorstep Banking Services launched by Public Sector Banks

Published: September 10, 2020

Finance Minister Nirmala Sitharaman launched the doorstep banking services for public sector banks. This will facilitate the users a hassle-free and convenient banking service. The services provided by the Doorstep Banking can be availed through Agents who has been deployed by the selected Service Providers at 100 centers across the country. These services can be availed at nominal charges. They would benefit all customers, particularly the Senior Citizens and Divyangs.

Key Highlights

  • The Doorstep Banking is a part of EASE Reforms (clean and smart banking)
  • It seeks to provide banking services to the customers at their door step with the help of universal touch points of Call Centre, Web Portal and the Mobile Application.
  • Financial services through these banks will be commenced October 2020.
  • It will be regulated by the Reserve Bank of India (RBI).

Public Sector Banks (PSBs)

PSBs are a major bank of India. In PSBs, majority of the stake is held by the government where, majority means more than 50% of the share. The shares of these banks can also be found listed on the stock exchanges. Currently, there are 12 Public Sector Banks and 1 state-owned Payments Bank in India.

Enhanced Access and Service Excellence (EASE) reform

The EASE Reforms aims to provide smart, tech-enabled public sector banking for aspiring India. Through this reform, government aims to focus on digitalisation in the Public Sector Banks. It works under the themes including deep financial inclusions, responsible banking, Udyami Mitra, customer responsiveness and credit take-off.

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