The State Bank of India (SBI), India’s largest lender, has announced the launch of a Mobile Handheld Device (MHD) for its Financial Inclusion (FI) customers. This innovative initiative aims to empower financial inclusion and extend essential banking services to the masses, particularly those who face challenges in accessing CSP outlets.The MHD is a portable device that can be used by Customer Service Point (CSP) agents to provide five core banking services to customers at their doorstep: cash withdrawal, cash deposit, fund transfer, balance inquiry, and mini statement. These services account for more than 75% of the total transactions conducted at SBI’s CSP outlets. In the near future, the bank plans to expand its offerings to include services such as enrolments under social security schemes, account opening, remittance, and card-based services.The MHD is a significant move towards enhancing accessibility and convenience in availing banking services. It offers greater flexibility to CSP agents and benefits customers, especially those with health issues, senior citizens, and Divyangjans.Dinesh Khara, Chairman of SBI, expressed his vision for the initiative, stating, “Our goal is to make banking facilities accessible to all sections of society, particularly the unbanked, to fulfil the aspirations of financial inclusion. With the introduction of the Mobile Handheld Device, customers will have a seamless and vivid experience conducting transactions at their location. This technology-driven initiative underscores SBI’s commitment to deepening financial inclusion and social welfare through digitization by providing convenient and doorstep banking to our customers.”The launch of the MHD is a welcome step towards promoting financial inclusion in India. By bringing banking services to the doorstep of customers, SBI is making it easier for everyone to access essential financial services.
