The lockdown has inconvenienced the general public to meet their daily cash needs and restricted access to their own money in their salary and pension accounts. “People are queueing up to withdraw the money from their accounts beating the purpose of social distancing. Our initiative will address this,” said Anush Raghvan, senior vice-president at CMS Infosystem. “To start with our service will be amount agnostic. This service will be immensely helpful at such critical times and also help people withdraw their DBT benefits.” CMS plans to deploy its 20,000-strong field staff across the country to offer this service.
The firm is already in advanced stage of discussion with ICICI Bank, IDFC Bank, Yes Bank, Utkarsh Small Finance Bank , besides public sector leaders like the State Bank of India, Bank of Baroda, according to Raghvan. ” Many have expressed their intent and are working on internal approvals ” he said.
The Reserve Bank of India has pushed for doorstep banking to the elderly and senior citizens. “Banks shall offer the doorstep banking services on pan India basis” the Reserve Bank had said in a circular on March, 31, after a nation-wide lockdown was announced to deal with Corona virus disease. “Banks should develop a Board approved framework for determining the nature of branches/centres where these services will be provided mandatorily and those where it will be provided on a best effort basis and make the policy public. The list of branches offering such doorstep banking services shall be displayed/updated on the bank’s website regularly”.
