SBI joins hands with Oxigen Services
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Public Sector Lender, State Bank of India (SBI) has tied up with recharge and billing services company, Oxigen Services and its supported company Sahyog Microfinance Foundation to offer banking services to customers through its Kiosk banking system by connecting directly to SBI’s core banking system by Oxigen web retailers. This move is being seen as the banking major???s attempt to reach out to “unbanked masses” and help them open accounts, avail loans and make investments through web-based kiosks.
Meanwhile, the services will be facilitated by Sahyog Microfinance Foundation which will appoint existing Oxigen retailers as Customer Service Points to carry out the banking services. The service will be rolled out initially in Delhi-NCR and Mumbai and will be taken nationwide in due course.
Presently, three kiosk banking outlets have been opened up in villages in NCR region namely at a village near Jangpura, Gurgaon and Noida. The customers will also be able to get auto/home loans and loans against property and gold, getting NSC/KVP certificates, investing in mutual funds, and activating different accounts current, term deposits and recurring deposits at these locations.
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