CSP: a small step towards society

Category: Finance

On 8 November 2016, the Government of India announced the demonetization of all ₹500 and ₹1000 banknotes of the Mahatma Gandhi Series. The commonality, especially the senior citizens, faced immense difficulty getting their currency deposited or exchanged. Our Customer Service Point took the matter very seriously. We negotiated with the State Bank of India to increase our daily limit of deposits and withdrawal from 5 Lac to 12 Lac, lest we have to face any difficulty in remitting cash and can serve more people. CSP registration from the State Bank of India allows us to give banking support to the large population living on the limit line of the socio-economic design, especially the lower-pay gathering, monetarily more fragile society, workers, farming/factory line labourers, and women. After I successfully did the entire CSP apply, a process to obtain the SBI CSP outlet, the first thing that came to my mind was to create job opportunities.