The CSP Bank Mitra Model Can Transform the Economic Fortunes of Rural India

There are many economists who say that the rural savings are quite high, but unfortunately the absence of a proper banking system in the remote parts is a major drawback. Therefore, in spite of the big cash being generated at the village level, it does not reflect much in the formal economy. In fact, if you take a look back there have been plenty of instances of dubious chit funds targeting this money and that causes a big hit on the formal economy. The government could not allow things to carry on for long and hence the CSP concept has been introduced. Let me take you through the details. 

The plan is to set up agency points:

The head count of villages located in remote areas is low and often it does not make economic sense for public sector banks to open branches. Hence, the CSP Bank Mitra concept has been introduced and it is about setting up agency points in areas, which have no bank branches in close vicinity. A person who has passed the standard 10 exams and can operate the computer is eligible to set up the agency. 

The office can operate like a normal bank and people in close vicinity can open accounts with nationalized banks. They can deposit cash and even withdraw money. The customer can even place the order for cheque books. It is alongside offering banking services, such agency points are also allowed to sell insurance policies.

How to apply?

The CSP agency format offers lucrative commissions and you also get a scope to serve society.  Therefore, you would love to opt for an Online CSP Apply with such providers. You could apply with a bank but we would insist on applying via specialized providers.  A particular bank can offer one agency but via a provider, you can apply for agencies of multiple banks. This concept is a perfect way to serve society and earn a living.