Private sector Dhanalaxmi Bank plans to open 50,000 'no-frills' acounts as a part of its overall endeavour towards financial inclusion.
The bank plans to initially open 50 customer service points (CSPs) in districts of Kerala and aims to reach out to over 50,000 customers through these service points, a press release issued here today stated.
Each CSP will always have a representative from the bank to guide and educate the customers on banking services, the release said.
The CSPs will be responsible to source 'no-frills' accounts and service the deposit and withdrawal requirements of the customer post opening of these accounts. The bank will use biometric card, using the finger prints of the customer, the release said.
Other banking services like insurance and loan products will also be offered from the CSP location.
Dhanalaxmi Bank has partnered with A Little World Private Limited (ALW) to provide technology, Zero Mass Foundation (ZMF) to offer business correspondence service and Nair Service Society (NSS) to source the person to run the customer service point.
For the services that the CSP would offer, the CSP would have access to fixed and variable revenue-stream and the CSP would also be expected to invest minimally as a partner in this venture, the release said.