State Bank of India has approved The Institute of Entrepreneurship Development (IED) as a Business Correspondent to provide comprehensive financial services to the underprivileged encompassing savings, credit, remittance, insurance, Mutual Funds and pension products in a cost effective manner, particularly in untapped / unbanked areas. The Institute of Entrepreneurship Development (IED) is providing the BC services in both Tamilnadu and Pudhucherry since 2015.

The BC arrangement essentially means enrolling customers and enabling the transactions of the customers at the Customer Service Points (CSPs) besides sourcing various deposit and loan products for the Bank as a Business Facilitator. The outlets of the BCs is undertaking the BC activity through KIOSK BANKING adopted by the Bank.

The Institute of Entrepreneurship Development (IED) have 675 no.s of CSPs (Customer Service Points) both in Tamilnadu and Pudhucherry states.


It is a banking outlet run through outsourced agency for carrying out limited transactions and sourcing of business. Jandhan Accounts, tiny RD accounts, Atal Pension Yojana, Pradhan Mantri Insurance Schemes are opened here. Customers can also withdraw and deposit money at CSPs. There are around 30 types of transactions/business are carried out by CSPs.

SBI Kiosk transactions are bio-metrically secured. Printed acknowledgment for each transaction is issued to the customer and has end-to-end process of account opening & online transactions.


CSPs are those individuals who acts as an agent of the bank at places where it is not possible to open branch of the bank. The Kiosk Banking Business Correspondent (BC) model aims to provide real time, user friendly financial services to the consumers in their neighbourhood.

Through the Kiosk Banking Solution the following services are being offered:

Opening of ‘No-Frill Savings Accounts’ by kiosk banking module Deposits / Withdrawals of Cash in Savings Accounts Opening of Term-Deposit/Recurring Deposit/ SHG Accounts Money Transfer to any Bank account Aadhar enabled deposits / withdrawals DBT enabled facispanty in accounts Pradhan Mantri Jeevan Jyoti BimaYojna / Suraksha BimaYojna Atal Pension Yojna Loan lead generation & repayments

What does the CSP gets:
Association with Banks SBI Bank’s software / portal, User ID (KO ID) and Password Biometric Reader & software for electronic thumb impression Authorization Certificate of CSP by the BC Bank’s Banners, signage, Logo/Stickers/Leaflets Proper Training of CSP to operate the system by the BC Technical support from the technical staffs from IED IED has given id and password to each CSPs to view their commission details through the IED website

Customer point services
Identification of borrowers & fitment of activities Collection and preliminary processing of loan applications including verification of primary data Creating awareness about savings and other products offered by the Bank and education and ndvice on managing money & debt counselling Processing & Submission of account opening applications to the Bank Promotion, nurturing, monitoring and handholding of Self Help Groups /Joint Liability Groups / Credit Groups and others Post sanction monitoring in case of advances / loans granted by the Bank Follow up of Recovery Disbursal of small value credits strictly as per instructions of the Bank Recovery of principal / interest from the borrowers and prompt deposit of the same with the Bank Collection and payment of deposits and withdrawals of both SBI and other banks customers through inter-operable platform i.e. Aadhar Enabled payment services and Micro- ATMs Collection and payment of small value deposits and withdrawals & Prompt deposit/withdrawal of the same with the bank Promoting STDR and RD products to the FI customers Promoting application of e-KYC on kiosk platform and enabling payment / receipt in respect of e- governs activity or any other activity Provide mini account statements and other account statements Sale of Micro / insurance /mutual fund / pension and other third party products as may be decided by the Bank Receipt and delivery of small value remittances / other payment instruments through Thatkal Remittances and remittance to the accounts of beneficiaries (Inter -Bank) under IMPS

The CSP will source following products to begin with:-
Savings Bank Accounts through kiosk banking model Home loans / Loans Against Property Auto Loans Loans against TDR/NSC/ KVP etc. Gold Loans SME Loans General purpose Credit card (GCC) Kisan Credit Card (KCC) Current Account Savings Bank account (other than No Frills Account) Term Deposits Recurring Deposits Remittances Tatkal reminances (IMPS) Social Security Schemes Financial Literacy e-KYC and Aadhar Seeding Micro-Insurance products Mutual funds on a referral basis

A person who has the mentality of doing self-enterprises A person who is honesty and sincere minded Service oriented personality Ability to handle the problems in a smooth way and good understanding among the people Having a good rapport with customers and problem solving capability

We provide relevant banking services to the unbanked through our substantial and effective Customer Service Points in Tamilnadu and Pudhucherry.