Doorstep Banking (DSB) – Come Home to Convenient Banking

While every service or business in the world is built upon Customer Convenience, this pandemic of 2020 has introduced us with a new level of luxury, yes there was a hassle at the initial level but now almost everyone has the cracked the hard nut of reaching out to their audience and grooming business to another level.

While this Pandemic has given us reasons to sulk, we should also acknowledge the various convenient adaptations done to suit up the new normal. For example, it is no longer just a millennial thing to order a pizza ardently within minutes. Now even our not-so-techy parents are also comfortable at least with the online order placements and digital payments.

Doorstep Banking – Relief from the Queue-Era of Banking

In the world of doorstep deliveries and digitalization, there was still a segment of the economy which has not been posed as convenient at all. The continuous hamster-wheel of waiting in a line, irritable lunch-hours of staff and delayed appointments have been a part of everyone’s life. Yes, you’ve guessed it right. Banking has not been a comfortable option for all.

Even though banks had adopted digital banking to a good extent, there were still hindrances amidst the customers and these financial institutions, which didn’t benefit the common man.

Not everyone has access to digital banking, especially the rurals, and banking being the necessity of everyone, people had to suffer even for the pettiest bank-work.

With the pandemic being an opportunity of new options, this gap has started to mitigate. The relaxations arrived in the form of “Doorstep Banking”

PSB Alliance Door Step Banking Service

Although the facility was available, public sector banks were not up for it. However, things were eased out after the launch of PSB Alliance Door Step Banking Service by Finance Minister, Nirmala Sitaraman on 9th September 2020.

With this service, banking in India will access even the remotest part of the country. This scheme intends to make the financial and non-financial services of public sector banks available to the customers at a very nominal rate.

Features of Door Step Banking

  1. Availability for All: During the inception, doorstep banking was envisioned for the comfort of senior citizens and differently-abled for whom going to banks is troublesome. But during the pandemic services were made available to all.
  2. Universal Touchpoints: Ease of Availability is ensured through the placement of several centers across the country with the deployment of service providers.
  3. Non-financial Services: For now the doorstep banking service includes only the non-financial services like pickup and delivery of cash, cheques, KYC documents, demand drafts and as such. Financial services are deemed to begin from October 2020.

Benefits of Door Step Banking

  • Safest Method: This is now a common agreement that the best place to be safe is our home and hence seeking the current times, it is clear that we should adapt ourselves to being at home. Hence, doorstep banking is helpful in being the safest way to resolve our banking needs.
  • Time-Saving: Now, this has been an epic solution since the problem of time has always been a matter with banks. Banking procedures takes too much of time. Doorstep banking is truly a boon for this time-constraint.
  • Easy and Hassle-Free: Not everyone understands the way how a bank works and it is very difficult for people to understand the norms usually. Thus through doorstep banking, it has been made simple and convenient.
  • Financial Freedom: Doorstep banking will surely lead to financially literacy, making every individual self-reliant. This will help people understand the economic importance and management of money.
  • Wide Accessibility: Usually the areas situated in the remote parts of the country are the ones which suffer from banking troubles since there are no banking institutions situated nearby. With the doorstep banking initiative, they will progress effectively.

 

Services available through Doorstep banking

Each bank has its own set of facilities listed under this but the easier ones which are commonly available under this category are :

  • Money Transfers
  • Documents Pickup & Delivery (KYC, Demand Draft, etc.)
  • Account opening
  • Cash pickup and delivery
  • Cash Deposit and withdrawals
  • Bill Payments
  • Third-Party Services like Loans, Insurance, Investments, etc.

How to avail Doorstep Banking

Currently, almost every bank offers the facility of doorstep banking. Although every bank may have different services available within it, but the facility can be accessed conveniently. All banks have their own procedures to begin doorstep banking but it is easily accessible. Mostly it can be initiated through a phone call, SMS or via connecting with the home branch.

The best way to start using this facility is to connect with your respective bank and get it availed.

All in all doorsteps banking in India is a perfect solution not just apt to the currently troubled period but also best for the development and economic growth of the nation.

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