The country’s largest lender State Bank of India (SBI) has introduced a facility to allow customers to enrol in social security schemes by just furnishing an Aadhaar card.
Chairman Dinesh Khara, unveiled an innovative Customer Service Points (CSP) functionality that enables hassle-free enrolment for social security schemes through Aadhaar.
Speaking on the occasion, Dinesh Khara, Chairman of SBI emphasized, “Our goal is to empower every stratum of the society by removing the barriers that hinder access to financial security. This technology-driven enhancement is a testament to SBI’s commitment to improve financial inclusivity and social welfare through digitization.”
Customers visiting CSPs will need only their Aadhaar cards to enrol in schemes such as Pradhan Mantri Jeevan Jyoti Bima Yojana, the Pradhan Mantri Suraksha Bima Yojana, and the Atal Pension Yojana
“With this pioneering feature, customers visiting Customer Service Points (CSPs) will need only their Aadhaar to enroll in pivotal social security schemes i.e. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY). The functionality does not require customers to carry passbooks to the CSP outlet for enrolment. SBI’s advanced system simplifies and expedites the enrolment process making it faster and more convenient than ever before,” SBI said in a statement.
The aim of the new feature is to empower every section of society by removing barriers to accessing financial security, Khara said, adding that this is expected to significantly widen the coverage of social security schemes, the bank said in a statement.
State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. As of June 2023, the bank has a deposit base of over Rs. 45.31 lakh crore with a CASA ratio of 42.88% and advances of more than Rs. 33 lakh crore. SBI commands a market share of 33.4% and 19.5% in home loans and auto loans respectively.
Source By: livemint
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