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PSU banks’ doorstep service launched by F.M

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PSU banks’ doorstep service launched by F.M

Finance Minister Nirmala Sitharaman launched the doorstep banking service on 9th September 2020. It is expected to benefit a large number of customers. This is part of EASE (enhanced access and service excellence) reforms that the Department of Financial Services had undertaken in 2018.

At this stage, the catalysts for economic revival, the catalysts who have the pulse of every one of their customers, are banks,” the finance minister said.

Here are the highlights of doorstep banking:

  • 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 requests through these channels.
  • At present only non-financial services vis-a-vis pick up of negotiable instruments (cheque/demand draft/pay order, etc.), pick up new cheque book requisition slip, request for account statement, delivery of non-personalised cheque book, delivery of pre-paid instrument/gift card and others are available to customers. Financial services shall be made available from October 2020.
  • While doorstep banking was prescribed by the Reserve Bank of India a few years ago, the public sector lenders had earlier come together to appoint a common service provider to handle this for all their customers.
  • Initially, the doorstep banking facility was decided to be available to senior citizens and the disabled, who found it difficult to visit branches.
  • Now, amid the pandemic, senior citizens aged 70 or more and differently-abled can avail doorstep banking all over India despite the lockdown, RBI notified earlier. According to guidelines from the central bank, banks should offer picking of cash and instruments and dropping of demand drafts.

 

Inputs : Livemint

 

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