SBI ties up with Oxigen for kiosks

Opening bank account in State Bank of India (SBI) is easy now for the people from the lower strata of society as SBI on Wednesday tied up with electronic services provider Oxigen services to provide banking solutions through the kiosks-based model.

Opening bank account in State Bank of India (SBI) is easy now for the people from the lower strata of society as SBI on Wednesday tied up with electronic services provider Oxigen services to provide banking solutions through the kiosks-based model. Under the plan, a customer will be able to open a bank account with SBI through 20,000 web-enabled retailers with minimum documentation.

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"The web enabled retailers will have SBI kiosk banking customer service centre signboards and core banking technology, enabling them to do banking services for masses," said Riten Ghose, GM, Mumbai, SBI.

With minimum documentation and R20, one can open accounts and deposit or withdraw up to R10,000 a day besides providing remittance facility.