Public Sector Banks or PSBs are a major type of bank in India, where a majority stake which is more than 50%, is held by the Ministry of Finance, Government of India, or Department of Finance of various State Governments of India. The shares of these banks are listed on stock exchanges. And the major decision taken by the government about a month ago was that it will be providing doorstep banking for payment to its customers.
What is PSB Alliance? Why is it being created?
PSB Alliance is an umbrella setup of all Public Sector Banks, jointly offering important customer-oriented services envisaged by the government and Door Step banking is one such initiative taken by PSB Alliance through which customers can avail major Banking transaction services at their Doorstep. Hence major public sector or government banks have come together forming an Alliance to jointly offer banking services to its customers which are very crucial in nature which includes services of both financial and non-financial category.
Before the forming of an Alliance, every public sector bank was providing unique services in itself but since the formation of an Alliance, they have united themselves of providing major services to its customers at their doorstep. The alliance consists of 12 major public sector banks like State Bank of India (SBI), Bank of Maharashtra (BOM), Bank of India (BOI), Bank of Baroda (BOB), Canara Bank, Central Bank of India (CBI), Union Bank of India (UBI), Punjab National Bank (PNB), etc.
Who is provided with a responsibility to offer doorstep banking?
To provide the services of both financial and non-financial to customers at their doorstep, Atyati Technologies Pvt. Ltd. and Integra Microsystem Pvt. Ltd. have been given the responsibility to offer doorstep banking by common touchpoints, as per psbdsb.in website. This service is provided at 100 main centers throughout the States.
To avail of monetary services like withdrawing money, you can go through the DSP app or through its internet portal or even by calling its toll-free number. To avail of the same, your account should be linked to Aadhaar, or you can withdraw from your debit card and the minimum transaction limit is Rs 1,000 and the maximum is Rs 10,000.
What are banks providing in the PSB alliance?
The banks are also providing 10 non-monetary services such as choosing up the cheque, supply of account assertion, providing with the new checkbook, choosing 15G and 15H, etc.. You can also submit your digital life certificates in this doorstep banking service wherein the respected person will come to your place, collect your digital life certificate through the Jeevan Pramaan app. In the present pandemic situation, it is difficult for many pensioners to submit their life certificates to the bank. Hence they can submit the same through the doorstep banking initiative of PSB Alliance.
Should I pay any amount to avail the services by PSB Alliance?
It is noted by all the public sector banks’ customers that to avail all these both monetary and non-monetary services at your doorstep, one will have to pay a nominal amount.
The DSB agent will be given various machines by various banks for various types of services like it is different for withdrawing money through debit cards or credit cards etc.. So, once the agent submits these devices to the respective banks, it will then validate your service code and your transaction will be notified as ‘completed’ which you will be receiving through the Mobile app if you have transacted before 3.00 PM. If your transaction request is received after 3.00 PM, then it will be completed the next enterprise day.
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