Kiosk Banking

What is Kiosk Banking?

Kiosk Banking is the brainchild of the Reserve Bank of India for those living in villages or other remote areas that are void of banking services due to the non-availability of a bank branch in that locality. Under such a scenario; it is not required by the individual to visit the bank to avail of the banking services. Instead, the bank comes to the village where the person can make the transactions.

AD Max Digital Service brings efficient kiosk banking services to millions of its customers. AD Max Digital Service has allied with leading public and private sector banks of India for enabling people to access an array of banking facilities through its internet-enabled kiosk banking outlets located across cities.

We deliver mainstream financial services to the mass bank-excluded Indian public using bio-metrically secured technology through kiosk banking. Printed acknowledgment for each transaction is issued to the customer and has an end-to-end process of account opening & online transactions. Micro savings and Micro remittances typically are done through No Frills Savings Bank Accounts at AD Max Digital Service kiosks.

How to work through Kiosk Banking

A retailer can open a basic bank account for customers by taking their photographs, recording their fingerprints, and compiling other essential details. The details are then forwarded to the allied bank branch along with other documents to perform the know-your-consumer (KYC) process. Once the bank activated the account, customers can deposit, withdraw or remit a maximum sum of INR 10,000 per day through the internet-facilitated kiosk branch of the bank.

Service Offerings

1. Bank Account Opening under Pradhan Mantri Jan Dhan Yojana
2. Cash Deposits, Withdrawals, Money Transfer
3. Fixed and Recurring Deposits
4. Balance Enquiry, Statement of Accounts
5. Disbursement of money under Direct Benefit Transfer
6. Lead generation for various loan products of Bank
7. Enrollments under Micro Insurance schemes (PMSBY and PMJJBY) and Atal pension Yojana scheme.

Key Features and Benefits

1. Our outlets are located at the Gram Panchayat level or village locations so that the customers need not travel long distances
2. Our outlets are open for banking services beyond normal banking hours thus providing convenience
3. All our outlets offer paperless and biometric enabled banking to enable the uneducated rural population to do transactions in ease
4. We provide interoperable banking across banks if the user’s account is linked to Aadhaar number
5. Facility to open zero balance accounts under the scheme PMJDY, which is a financial inclusion initiatives

Benefits of Pradhan Mantri Jan Dhan Yojana (PMJDY) Account

1. No minimum balance required
2. Accidental insurance cover of Rs. 2,00,000
3. Life insurance cover of Rs. 30,000 payable on death of the beneficiary, subject to fulfilment of eligibility conditions
4. Beneficiaries of Government schemes will get Direct Benefit Transfer in these accounts
5. Overdraft facility up to Rs. 10,000 is available for one account per household, preferably to the female member of the household.
6. Accidental insurance of Rs.2,00,000 under Pradhan Mantri Suraksha Bima Yojana at a very nominal premium of Rs.12/- p.a.
7. Life Insurance cover of Rs.2,00,000 under Pradhan Mantri Jeevan Jyoti Bima Yojana at an affordable premium of Rs.330/- p.a.
8. Guarantees monthly pension of Rs.1000/- to Rs.5000/- p.m. under ATAL PENSION YOJNA for weaker section of society at an affordable premium.

How a person can become a Banking Correspondent

Interested candidate should submit the online forms duly filled in all the columns and self attested copies of Aadhar card, PAN card, qualification certificate (not below 10th class) and latest police verification report through email to . On receipt of application and documents Company representative verifies genuineness of papers and availability of location in consultation with Bank and forwards the request of identified candidate with appointment letter issued by Company (VK Venture Pvt Ltd) to concerned branch of BOB for opening of BC settlement account of BC and complete all the formalities required by Bank. After completion of all the formalities and opening of BC settlement account the comply applies for BC code generation to Bank. Bank’s Head office issues BC Code for identified BC. On receipt of code company’s technical team calls the BC for uploading Bank BC’s software on BC’s computer system and provide necessary primary training for starting operation at BC point. The BC has to work as per PMJDY norms and various schemes of Banks.

Services Offered By BC

  • Saving Account Opening
  • Fixed Deposit / E-KYC Enrolment
  • Loan Deposit
  • Recurring Deposit
  • Deposit / Withdrawal of Cash
  • Balance Enquiry / Mini Statement
  • Pass Book Printing
  • Tatkal Money Transfer to any Bank
  • Account/IMPS Transaction/
  • Aadhar Enabled Payment System(AEPS facility)
  • Rupay ATM Card/Identity Card
  • Social Security Schemes (PMJJY, PMSBY & APY)
  • DBT enabled facility in accounts
  • 3RD Party Finacial Products Like : Insurance Pension etc.

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