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Doorstep Banking Services for Senior-Citizens – SBI, PNG and Canara Bank

Doorstep Banking Services for Senior Citizens

In this article firstly, we will discuss Doorstep Banking Services for Senior-Citizens. Secondly, we will cover three prominent public sector banks (State Bank of India, Punjab National Bank and Canara Bank) which have already started this service to delight their eligible customer.

Doorstep Banking Services for Senior-Citizens

In the year 2020, RBI issued a letter advising all Banks to implement DoorStep Banking services for Senior-Citizens of 70 years of age and differently-abled people. Most Importantly, this service is aimed at providing basic banking services to eligible customers at their doorsteps in an effective and transparent manner.

Most Importantly here are a few aspects while considering this policy:

  • It states the bank shall offer DSB services on a PAN India basis. Above all, it should aim at enhancing customer experience. In addition, list of branches/centers should be updated on bank’s website regularly.
  • As this is a chargeable service hence the charges applicable for each type of transaction should be publicized via awareness programs, brochures, and websites.
  • Quarterly the progress report for implementing this policy should be submitted to the Customer Service Committee for review purposes.

The banks which we have covered in detail below has outsourced this services via PSB Alliances. Therefore, services offered will be more or less same as banks have to abide RBI regulations.

Also Read SBI Doorstep Banking App | Charges | Registration | Eligibility

Guidelines of Doorstep Banking Services

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.As per RBI’s circular DBOD.No.BL.BC.59/22.01.0.10/2006-07 dated Feb 21, 2007, has issued certain regulatory guidelines. In addition, to make this service a success. Here is the list of guidelines by RBI:

Service Charge

Banks should inform the charges applicable to avail this service and should form part of the application cum request form to avail this service, RBI expects the customer to read the charges and other conditions before applying for this service.

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Service to be Offered

As per standard operating procedure, both financial and non-financial services should be offered to senior citizens aged 70 years and above or differently-abled people. Please find the list of services commissioned at Banks end:

DSB ServiceNature of ServiceMode of Service
Pickup of ChequeNon-FinancialPickup
Pickup of Cheque Requisition slipNon-FinancialPickup
Pickup of Form 15G/HNon-FinancialPickup
Pickup of Demand Draft Request formNon-FinancialPickup
Pickup of Life CertificateNon-FinancialPickup
Delivery of New Cheque BookNon-FinancialDelivery
Delivery of Demand DraftNon-FinancialDelivery
Fixed Deposit Advice/ReceiptNon-FinancialDelivery
Delivery of Form 15G/HNon-FinancialDelivery
Duplicate Account StatementNon-FinancialDelivery
Cash Deposit Upto Rs.20000 per dayFinancialPickup
Cash WithdrawalFinancialDelivery

Also Read Government of India Pension Scheme for Old Age or Parents – Guaranteed Pension

Modalities of Delivery

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It strictly outlines how the service has to be delivered at doorstep:

1) Via Own Bank Employees
2) Via Third Party Agents

In case of banks hire third parties to service this offering in return for fee/commission then Banks should comply with the Managing Risk and Code of Conduct in outsourcing financial services at their end.

Also Read RBI Bonds 2021 or Floating Rate Savings Bonds | Rate of Interest | Online & Offline

Delivery Process

It states that following directions to regulate the delivery process:

  1. Bank should issue an acknowledgment receipt in case of cash collected from the customer’s doorstep.
  2. Cash collected should be deposited in bank account either on the same or next working day depending upon the time of collection.
  3. In the case of cash collection, the acknowledgment receipt should contain the date of credit with the rest details to avoid unnecessary queries.
  4. Delivery of demand draft should be done by debiting the account against the request form/cheque received for the same. Not against cash or other instrument collected at the doorstep.
  5. Delivery of cash should be done against the receipt of cheque only at the branch not against any telephonic request.

Also Read List of Government Bonds in India – Short-Term and Long-Term Bonds

Few Other Conditions

  • Firstly, services should only be offered to KYC Compliant customers.
  • Secondly, service should be offered at registered address with the banks could be official or residential address.
  • Thirdly, service should not be restricted to any particular class of customers instead should be extended to all eligible customers.
  • Consequently, bank will be responsible for the omiiion and commission of its agents.
  • Lastly, Bank should comply with the restrictions outlined by RBI for making payment for outsourcing the services.

Risk Management

Banks should clearly mention in the agreement not to entail any legal or financial liability on account of failure to offer this service. In addition, this service is only an extension of service to delight the customers. Therefore, bank liability is only restricted at the branch only.

Grievance Redressal

The bank should appoint a Grievance re-addressal committee to address the complaints from the dissatisfied customer. Compliant can be against the service agent or service request itself. Above all, details of Grievance addressing Manager should be provided on the bank website so that customer issue does not get unaddressed.

Also Read RBI RDG Account – Buy & Sell G-Secs, Bonds, T-bills, and State Development Loans

Comparison between Best Doorstep Banking Services for Senior-Citizens

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Let’s check out the offering of the prominent public sector banks. We will discuss this service State Bank of India, Punjab National Bank and Canara Bank:

DescriptionState Bank of IndiaPunjab National BankCanara Bank
Customer RegistrationPossible at Home Branch via application cum request form and SBI YONO AppYou can contact Home Branch/Designated branch via application cum request form. Alternatively, visit www.psbdsb.in or Download DSB Mobile App.Call on Toll Free Numbers 1800 10 37 188 / 1800 12 13 721. Alternatively, visit www.psbdsb.in or Download DSB Mobile App.
How to place service request for DSBVia Toll free Number 1800111103 during working days between 9am to 4pm.Mobile call from registered number, email from registered email address, can contact the customer care, Internet & Mobile Banking.Can contact Call centre or place request via DSB App/DSB Web portal.
Service AvailabilityAvailable for majority branches. For complete list you can refer their websiteCurrently available for selected 100 centres.Available only for selected 100 branches.
EligibilitySenior Citizen aged 70 years & above, visually impaired, differently abled customers Senior Citizen aged 70 years & above, visually impaired, differently abled customersAvailable for all individual category customers except for Minors
/ attached / blocked / Non KYC complied accounts etc.
Charges for Financial /Non Financial ServicesRs 75+GSTSame charges like SBISame charges as SBI

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FAQs

What is the Toll free number for DSB Service Provider?

All three banks have hired same service provider. Here are the toll free number for both:
1800 890 1555 (M/s Atyati) & 1800 121 3721 (M/s Integra)

Is valid mobile number necessary to be updated with Bank records?

Definately Yes, as that will be the primary point of contact and authentication.

I have joint account with my bank, can I avail DSB services at my bank end?

You can only avail the services provided Account Operation mandate is “Either or Survivor”/”Any One or Survivor”

What is the turnaround time for all three Banks: SBI,PNB & Canara Bank

Here is the TAT for all three Banks:
SBI: T+1 Working Day excluding holidays
PNB: T+2 Working Day excluding holidays
Canara Bank: Request generated by 3PM will be completed in next 3 hours. However, if request generates post 3PM, will be completed by 1pm on next working day.

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