In this article, I am going to discuss the process of opening a CSP of Bank of India. In this article, I will discuss the basic requirements, documents needed, investment required, commission earned, etc. Before talking about these things, we should know some basic terms like CSP. SO, a CSP also known as kiosk banking or mini branch is a digital booth where maximum services of a bank are provided. These services are cash deposit, cash withdrawal, account opening(RD, FD & Saving accounts), Aadhar seeding, ATM Pin generation, etc. It also provides some of the government schemes like Atal Pension Yojna, PMSBY, PMJJY, etc. Many banks like SBI, BOI, PNB, Central Bank of India, Union Bank of India, etc have their CSPs. Bank of India is one of them. By opening a CSP, you can earn approx Rs.30,000-Rs.50,000 per month. Bank does not provide CSP directly. To open a CSP, you need to consult the business correspondent.
A business correspondent is just like an agent or broker who links the bank with you. It means it works like a bridge between you and the bank. To open the CSP, banks have given authority to several companies. These companies are called business correspondent companies. They do the whole setup of the CSP office and in return, they charge money. They also provide commission to the CSP. Banks also do not provide commissions directly to the CSP. So, business correspondent companies are so important for opening a CSP. There are many trusted business correspondent companies in the market like Oxigen, Jio payment banks, Zero mass foundation, Sanjivni Vikas Foundation, etc. So, you can visit any business correspondent’s official website to apply for the CSP. Beware of fraudulent websites that are using their name for scamming in the name of CSP. So, first, verify everything and do not give any amount of penny to anyone. First, verify them in front of the bank and after the work is completed, then, pay them. So, keep these things in your mind before visiting someone’s website. Do not get manipulated by any offer or something.
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After verification is done completely, visit their official website. After that, you have to request CSP. So, you need to click on request CSP or apply for CSP. After that, you will be directed to the page of eligibility criteria to open the CSP. We are going to discuss eligibility criteria.
Eligibility Criteria for opening & maintaining the CSP of Bank of India.
These are the following criteria, you need to fulfill to open a Bank Of India CSP.
- Your age should be at least 21 years.
- Your education qualification should be at least class 10th.
- You should have some basic knowledge of Computer.
- You should have enough money to invest to open the CSP. It may be from Rs.10,000 to 50,000. So, it totally depends on the business correspondent company.
- l You should be responsible, laborious, and the most important, unemployed.
Documents required to open a Bank Of India CSP.
- 1 passport size color photos.
- Education certificate of class 10th or more.
- PAN card(mandatory).
- Aadhar card(mandatory).
- Voter Id card(optional).
- Driving license(optional).
- Office rent agreement if you have rented the place and along with that, a NOC means no objection certificate. On that paper, it will be written that the owner has no objection to open a bank CSP on his land.
- A Police verification certificate means there should not have any criminal record against you.
So, by fulfilling every criteria and document you can easily open a Bank of India CSP.
So, after that, you need to apply for bank CSP online on that website and after that, you need to fill in every detail like name, address, contact information, the place where you want to open the CSP, etc. You also have to upload all documents. After that, business correspondents will contact you shortly. So, you need to follow their instruction and after receiving user name and password, you need to pay them and after that, you can run your CSP.
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