The Reserve Bank of India (RBI) defines financial inclusion as the process of ensuring access to financial services timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost. In the essence of financial inclusion, KIOSK banking is an important concept and basically developed for rural areas of country where there are less number of banks and people can't reach to the bank to use their services. It is conceived that the kiosks will functions with the support of leading banks in the private, public and cooperative sectors and using the shops as a touch- point for basic banking services such as cash deposits, withdrawals and online transfer apart from micro-credit and insurance. Like the ordinary bank branches, the kiosks will provide all the basic services of banking.

View Proposal