Bank CSP is a Business Correspondent and Technology Service Provider to multiple banks. It has partnerships with few of the biggest banks in India like State Bank of India (SBI), ICICI Bank, Yes Bank. Online CSP leverages existing retail shops, telecom connectivity and banking infrastructure to extend branchless banking services to a common man.
Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.
Account can be opened in any bank branch or Business Correspondent (Bank Mitr) outlet. PMJDY accounts are being opened with Zero balance. However, if the account-holder wishes to get cheque book, he/she will have to fulfill minimum balance criteria.