State Bank of India, the country’s largest public sector bank is proposing to pass on low-value and high-volume transactions from the branch channel to the business correspondent or customer service point channels to decongest the branches. These business correspondent channels, like a post office, will be appointed by the banks to carry out banking operations in remote areas where they have no branches.
The new channels will offer services such as opening bank accounts, accepting deposits and disbursing money. Daily 1,000 to 2,000 customers visit SBI branches and the demand for bank services remains high.
