SBI CSP Commission Structure effective

SBI CSP Commission Structure effective

Annexure

FINANCIAL INCLUSION

Business Correspondent (BC) Channel (Commission Structure effective from 01.04.2021)

S.N.

Particulars

Existing

Proposed Rural/Semi Urban

Proposed Urban / Metro

1a

SB account Opening with

Rs.15/- per a/c

SB

account

i) Initial deposit ≥ Rs.

i)         Initial

deposit

initial        deposit

below

Opening

with

1000 -Rs.

22/- per

≥ Rs. 1000 -Rs.

25/- per

Rs.100/- without Aadhaar

e – KYC:

a/c.

a/c.

1b

SB account Opening with initial deposit below Rs.100/- with Aadhaar

Rs.15/-per a/c

(Rationale: Promote e – KYC for operational efficiency)

ii)     Initial     deposit ≥         Rs.500          to < Rs. 1000 -Rs. 20/-

ii)        Initial         deposit ≥ Rs.500 to < Rs. 1000 -Rs. 22/- per a/c.

per a/c.

1c

SB account Opening with

Rs.20/-per a/c

iii)     Initial     deposit

iii)        Initial

deposit

initial deposit of Rs.100/- &

≥ Rs.100 to < Rs. 500

≥ Rs.100 to < Rs. 500

above but below Rs.500/-

-Rs. 20/- per a/c.

– Rs. 22/- per a/c.

without Aadhaar

iv)     Initial     deposit

iv)        Initial

deposit

<Rs.100     (Including

< Rs.100 (Including zero

zero              balance)

balance) -Rs. 17/- per

-Rs. 15/- per a/c.

a/c.

1d

SB account Opening with initial deposit of Rs.100/- & above but below Rs.500/- with Aadhaar

Rs.20/-per a/c

SB                account Opening with OVDs (without e – KYC).

i)      Initial      deposit ≥ Rs.100 – Rs. 10/- per a/c.

Same as applicable to Rural/Semi-urban category

1.e

SB account Opening with initial deposit of Rs.500/- & above without Aadhaar

Rs.20/- per a/c

ii)    Initial     deposit <Rs.100 (Including zero balance) -Rs. 5/- per a/c.

Same as applicable to Rural/Semi-urban category

1.f

SB account opening with initial deposit of Rs.500 & above with Aadhaar

Rs.20/- per a/c

2

Opening of RD Accounts

Rs.15/- per account

Opening

of

RD

Rs. 10/- per a/c.

Same as applicable to

(Min. Deposit Rs.50/-)

Accounts

Min.

Rural/Semi-urban

Deposit Rs.50/-)

category

(Rationale: Instances of closure of RD A/cs after deposit of single instalment observed)

3

Opening of STDR   (Deposit Min. Rs.1000/- & Max. Rs. 10000/-)

0.50%        of        amount deposited (Max.Rs.50/-)

No change   (Deposit Min. 10000/-)

Rs.1000/- & Max. Rs.

0.50%       of        amount deposited. (Max. comm. Rs.100/-)

(Deposit                    Min. Rs.1000/- & Max. Rs. 20000/-)

4

Cash (Transaction Rs.100 & above)

Deposit amount

Up to Rs. 10,000/-: 0.25% Min Rs. 2/- Max Rs. 8/-

No change

Up to Rs. 10,000/-: 0.25% Min Rs.2/- Max Rs. 10/-

Rs.          10,001/- Rs.15,000/-: Rs. 12/-

to

Rs.           10,001/- Rs.15,000/-: Rs. 10/-

to

Rs.           15,001/- Rs.20,000/-: Rs. 12/-

to

Rs. 15,001/- to Rs.20,000/-: Rs. 15/-

S.N.

Particulars

Existing

Proposed Rural/Semi Urban

Proposed Urban / Metro

5	Cash                    Withdrawal (Transaction            amount Rs.100 & above)	Up to Rs. 10,000/-: 0.50% Min Rs.3/- Max Rs.15/-	No Change.	Up to Rs. 10,000/-: 0.50% Min Rs.3/- Max Rs.17/-
		Rs.     10,001/-     to     Rs. 15,000/-: Rs.17/-		Rs.     10,001/-    to     Rs. 15,000/-: Rs.20/-
		Rs.     15,001/-     to     Rs. 20,000/-: Rs.20/-		Rs.     15,001/-    to     Rs. 20,000/-: Rs.22/-
6	Remittance     (Cash)     (Non- Home Branch A/Cs)	80% of fee recovered from customers, Minimum Rs. 8/-, Maximum Rs.80/-   (1% of amount remitted, Min. Rs. 10/- & Max. Rs. 100/- recovered from the customers)	Up to Rs. 10,000/-: 0.25% Min Rs. 2/- Max Rs. 8/-	Up to Rs. 10,000/-: 0.25% Min Rs.2/- Max Rs. 10/-
			Rs. 10,001/- to Rs.15,000/-: Rs. 10/-	Rs. 10,001/- to Rs.15,000/- : Rs. 12/-
			Rs. 15,001/- to Rs.20,000/-: Rs. 12/-   (No recovery from customers)	Rs. 15,001/- to Rs.20,000/-: Rs. 15/- (No        recovery        from customers)
			(Rationale: There is no distinction between Home & Non-Home customers. Doing away with recovery from customers will give a boost to migrating customers from Br. To CSPs.)	(Rationale: There is no distinction between Home & Non-Home customers. Doing away with recovery from customers will give a boost to migrating customers from Br. To CSPs.)
7	Remittance (Transfer) (Home Branch A/Cs)	Up to Rs.10,000/-: 1% of the amount, Min.Rs.3/-, Max Rs.10/-	No change	Up to Rs.10,000/-: 1% of the amount, Min.Rs.3/-, Max Rs.12/-
		Rs.10,001/- to Rs.15,000/-: Rs.12/-		Rs.10,001/- to Rs.15,000/-: Rs.15/-
		Rs.15,001/- to Rs.20,000/-: Rs.15/-		Rs.15,001/- to Rs.20,000/-: Rs.17/-
8	Remittance (Transfer) (Non- Home Branch A/Cs)	50% of fee recovered from customers, Minimum Rs.5/- , Maximum Rs.50/-	Up to Rs.10,000/-: 1% of the amount, Min.Rs.3/- , Max Rs.10/-	Up to Rs.10,000/-: 1% of the amount, Min.Rs.3/-, Max Rs.12/-
		(1% of amount remitted, Min. Rs. 10/- & Max. Rs. 100/- recovered from the customers)	Rs.10,001/- to Rs.15,000/-: Rs.12/-	Rs.10,001/- to Rs.15,000/-: Rs. 15/-
			Rs.15,001/- to Rs.20,000/-: Rs.15/-   (No recovery from customers)	Rs.15,001/- to Rs.20,000/-: Rs. 17/- (No        recovery        from customers)
			(Rationale: There is no distinction between Home & Non-Home customers. Doing away with recovery from customers will give a boost to migrating customers from Br. To CSPs.)	(Rationale: There is no distinction between Home & Non-Home customers. Doing away with recovery from customers will give a boost to migrating customers from Br. To CSPs.)

S.N.

Particulars

Existing

Proposed Rural/Semi Urban

Proposed Urban / Metro

9.a	IMPS (Cash) (Up to Rs.5,000/-)   (Recovery                                        from customers: 1.25% of amount remitted, Min. Rs. 24/- & Max. Rs. 100/-)	80% of fee recovered from                 customers, Minimum – Rs.8/- & Maximum – Rs.28/-	(Cash up to Rs.10,000/-) 80% of fee recovered from customers, Minimum – Rs.8/- & Maximum – Rs.35/-	(Cash up to Rs.10,000/-) 80% of fee recovered from               customers, Minimum – Rs.8/- & Maximum – Rs.40/-
9.b	IMPS (Transfer)   (up to Rs.20,000/-)   (Recovery from customers: 1.25% of amount remitted, Min. Rs. 24/- & Max. Rs. 100/-)	50% of fee recovered from                 customers, Minimum – Rs.5/- & Maximum – Rs.50/-	No change	50% of fee recovered from               customers, Minimum – Rs.5/- & Maximum – Rs.60/-
10	Bill      Collection            Service (BBPS) 1. Utilities (Electricity, Gas and Water.	i) Up to Rs. 1000/- 80% of CCF earned i.e. Rs. 4/- per                                 bill ii) Above Rs. 1000/- 80% of CCF earned i.e. Rs. 12/- per bill	No change	Same as applicable to Rural/Semi-urban category
	2. Telecom (Mobile Prepaid, Mobile:-post- paid, Landline:-Post-paid, Broadband Post-paid)
	3.     DTH     (Any     amount permissible by biller)	1.25% of the bill amount	No change	Same as applicable to Rural/Semi-urban category
	(Recovery from customers: Up to Rs. 1000/-: Rs. 5/- & Above Rs. 1000/-: Rs. 15/- per bill, NIL for DTH).

S.N.

Particulars

Existing

Proposed Rural/Semi Urban

Proposed Urban / Metro

11	a) Rural CSP (Incentive)	Rs.2000/- subject to opening minimum 50 accounts per month or minimum 100 transactions per month or both.	No Change	NAP
		Payment of incentive for all CSPs at LWE / Aspirational districts and State of Sikkim Rs.          3000/-    per    month     as incentive      or       the       actual commission     including     Rural Commission payable as per the applicable fee structure for the BC            Channel,                  whichever     is higher. Condition: CSPs operating in Aspirational Districts (as notified by NITI Ayog, GOI) and in the State of Sikkim are required to undertake a minimum number of 25 transactions during the month.Minimum number of transactions is not applicable to LWE districts.	No Change	NAP
		Payment of incentive for CSPs (other than Urban CSPs) of North          Eastern           States Rs. 4000/- per month as incentive or the actual commission including Rural Commission payable as per the applicable fee structure for the BC Channel, whichever is higher Condition: CSPs operating in North Eastern States (Rural & semi urban) are required to undertake a minimum of 25 transactions during the month.	No Change	NAP

S.N.

Particulars

Existing

Proposed Rural/Semi Urban

Proposed Urban / Metro

12	Weekly average balance maintenance fee (each CSP) (Min. 200 no. of BSBD accounts)	1.00% p.a. for average balance > Rs.1,700/-     Balances held in account up to Rs.5,00,000/- only will be considered for calculation of incentive against average balance maintenance fee.   Maximum commission for maintenance of average balance for each CSP will be capped at Rs. 25000/- per month inclusive of GST.   Minimum no of transactions during the month – RU/SU – 100, UR/Metro – 200.	i) 1.10% per annum for average balance > Rs. 2000/-, subject to following conditions:   Balances held in account up to Rs.5,00,000/- only will be considered for calculation of incentive against average balance maintenance fee.   Maximum commission for maintenance of average balance for each CSP will be capped at Rs. 25000/- per month inclusive of GST.   Minimum no of transactions during the month – RU/SU – 100, UR/Metro – 200.   Rationale: Average balance in the channel is Rs. 2,523/- per account as on 28.02.2021.   Only active CSPs to get advantage.	Same as applicable to Rural/Semi-urban category
13	Non-zero balance account (each CSP) (Min. 200 no. of accounts &           minimum           25 transactions during the month)	i Less than 85% – Nil	NIL   Rationale: Zero balance accounts as on 28.02.2021 are now only 2% (27.48 lacs a/cs) out of the total no. of 1373 lacs accounts.Incentive is being paid even though SB accounts are opened with zero balance. Further, incentives are also paid on weekly average balance. Commission on non – zero balance accounts is proposed to be done away with on portfolio basis, which will avoid multiple incentivisation.	Same as applicable to Rural/Semi-urban category
		ii) 85% and above – Rs.750/- per month
		iii 90% and above -Rs1000/- per month
		Nonzero (funded) accounts having monthly average balance of Rs.100/- & above, Minimum 100 transactions during the month at rural / semi urban centre and 200 transactions at urban / metro centres
14	Aadhaar seeding (existing account holders)	Rs. 5/- per account	No change	Same as applicable to Rural/Semi-urban category
15	Mobile                   Seeding: (Inputting Valid Contact Number)	Rs. 5/- per account	No change	Same as applicable to Rural/Semi-urban category

S.N.

Particulars

Existing

Proposed Rural/Semi Urban

Proposed Urban / Metro

16	Generating Green PIN for RuPay ATM Cards	Rs.5/- per PIN reset per Account / Month (For first time PIN generation)	No change	Same as applicable to Rural/Semi-urban category
17	Mini Statement through Micro ATM (Maximum 2 mini statement per account per month)	Rs. 2/- per statement	No change	Same as applicable to Rural/Semi-urban category
18	Passbook printing	Rs.5/- per passbook per day.Rs.6/- per passbook per day beyond 300 passbooks printing.	Rs.5/- per passbook per day.   Condition: (Max. 05 times per a/c in a month)	Rs.6/- per passbook per day.   Condition: (Max. 05 times per a/c in a month)
19	Social Security Scheme PMJJBY.PMSBY.APY. (Premium on enrolment to be collected from customers, as per Annexure -II enclosed)	a) Rs.30.00/- b) Rs.1.00/- c) Rs.80.00/- to Rs. 100/- (Depending on number of enrolments) (Govt. mandated)	No change	Same as applicable to Rural/Semi-urban category
	Services being rolled out soon
20	Request for issuance of cheque book of 10 leaves (Non FI customers with AEPS) (Recovery                    from customers: First 10 cheque leaves free in a financial year at branch, thereafter: 10 leaf cheque Book at Rs. 40/- + GST & 25 leaf cheque Book at Rs. 75/- + GST)	—	Rs. 5/-	Rs. 6/-
21	Request for Stop cheque (Recovery                    from customers: Rs. 100/- + GST per instrument maximum Rs. 500/- + GST per instance)	—	Rs.2/- per instruments – Max. Rs. 5/-	Same as applicable to Rural/Semi-urban category
22	Request for Blocking of (RuPay/ATM) Card	—	Rs. 2/- per instance	Same as applicable to Rural/Semi-urban category

S.N.

Particulars

Existing

Proposed Rural/Semi Urban

Proposed Urban / Metro

23	NEFT by transfer up to Rs. 10,000/- (Both FI and Non FI                        customers) (Recovery                    from customers: Up to Rs. 10000/-: Rs. 2/- + GST, Above Rs. 10000/-: Rs. 4/- + GST)	—	Rs. 2/- per transfer	Same as applicable to Rural/Semi-urban category
24	Deposit in Loan Accounts
	Un – Mapped accounts	0.40% Min. Rs.2/-, Max Rs. 10/-	No change	Same as applicable to Rural/Semi-urban category
	Mapped accounts	0.50%            of            collections made/routed by BCs/CSPs	No change	Same as applicable to Rural/Semi-urban category

As an AI language model, I don’t have access to real-time information or the ability to provide up-to-date commission structures. The commission structure for SBI (State Bank of India) CSP (Customer Service Point) may vary over time and can depend on various factors, including the specific agreement between SBI and the CSP.

To obtain the most accurate and current commission structure for SBI CSP, I recommend reaching out to the nearest SBI branch or contacting SBI directly. They will be able to provide you with the most up-to-date information on the commission rates, structure, and any other relevant details regarding becoming a CSP for SBI.

To register as a CSP (Customer Service Point) for SBI (State Bank of India), you can follow these general steps:

1. Contact SBI Branch: Reach out to the nearest SBI branch or the branch of your preference. Inquire about the process and requirements for becoming a CSP. The branch manager or designated official will guide you through the registration process.
2. Fulfill Eligibility Criteria: Ensure that you meet the eligibility criteria set by SBI for CSP registration. These criteria may include factors such as age, educational qualifications, experience in the banking sector, and other requirements specified by the bank.
3. Gather Required Documents: Collect the necessary documents for the registration process. These documents may include:
   • Application form: Obtain the CSP application form from the SBI branch or download it from their official website.
   • Identity proof: Provide documents such as Aadhaar card, PAN card, voter ID, or passport as proof of identity.
   • Address proof: Submit documents like utility bills, rent agreement, or bank statements as proof of address.
   • Educational qualifications: Provide certificates or documents that validate your educational qualifications.
   • Experience certificates: If applicable, submit experience certificates or letters from previous employers to showcase your experience in the banking or financial sector.
   • Other documents: SBI may require additional documents as per their specific requirements, so it’s advisable to check with the branch for a comprehensive list.
4. Submit Application: Complete the CSP application form and attach all the required documents. Submit the application form along with the documents to the SBI branch. Ensure that the application is filled accurately and all the supporting documents are provided.
5. Verification and Approval: SBI will review your application and conduct the necessary verification checks. This process may involve background checks, due diligence, and assessing your suitability as a CSP. If your application is approved, you will be notified by the bank.
6. Agreement and Training: Once approved, you may be required to sign an agreement with SBI, outlining the terms and conditions of the CSP arrangement. SBI may also provide training on their products, services, and operating procedures. Attend the training sessions and familiarize yourself with the necessary guidelines.
7. Infrastructure Setup: Set up the required infrastructure at your CSP location. This may include setting up a computer system, internet connectivity, biometric devices (if applicable), and other necessary equipment as per the guidelines provided by SBI.
8. Go Live as CSP: After completing the training and infrastructure setup, you can start offering SBI banking services to customers through your CSP. Adhere to the operational guidelines provided by the bank and maintain compliance with the necessary regulations.

Please note that the exact registration process and requirements may vary based on SBI’s policies and guidelines. It is recommended to directly contact the bank or visit the nearest SBI branch for detailed information and guidance on the CSP registration process.

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As an SBI CSP (Customer Service Point), you will be authorized to provide various banking services on behalf of State Bank of India. These services aim to extend the reach of SBI’s banking facilities to unbanked or underbanked areas, promoting financial inclusion. Here are some of the common services that you can offer as an SBI CSP:

1. Account Opening: You can assist individuals in opening SBI savings accounts, current accounts, and other types of accounts offered by the bank. This includes helping customers fill out the necessary application forms and verifying their identity and address proofs.
2. Cash Deposits and Withdrawals: Customers can deposit and withdraw cash through your CSP. You will be responsible for accepting cash deposits into their SBI accounts and providing cash withdrawals as per their requirements.
3. Fund Transfers: You can facilitate various fund transfer services, such as transferring money between SBI accounts, interbank transfers, and remittance services. This allows customers to send and receive money securely.
4. Balance Inquiries and Mini-Statements: As an SBI CSP, you can provide customers with account balance inquiries and mini-statements. This enables them to check their account balances and review recent transactions.
5. Bill Payments: You can assist customers in paying their utility bills, such as electricity, water, gas, and telephone bills, using their SBI accounts. This service helps individuals conveniently settle their bills through your CSP.
6. Aadhaar Enabled Payment System (AEPS): SBI CSPs often offer AEPS services, allowing customers to perform banking transactions using their Aadhaar card details. This includes services like cash withdrawals, balance inquiries, and Aadhaar-to-Aadhaar fund transfers.
7. Government Schemes and Benefits: SBI CSPs can facilitate the disbursement of various government subsidies, pensions, and other financial benefits. This helps individuals receive their entitlements directly into their SBI accounts.
8. Loan Applications and Repayments: You may assist customers in applying for SBI loans and provide guidance throughout the loan application process. Additionally, you can accept loan repayments on behalf of the bank.
9. Insurance and Investment Products: Depending on the specific agreement with SBI, you may have the option to offer insurance and investment products provided by the bank. This can include selling insurance policies, mutual funds, fixed deposits, and other investment options.

As an SBI CSP, it is important to follow the guidelines and operating procedures set by the bank. You will be representing SBI and should maintain professionalism, integrity, and compliance with banking regulations.

Please note that the availability of services may vary based on the specific CSP agreement with SBI and the infrastructure capabilities of your CSP location. It is recommended to directly contact SBI or visit the nearest SBI branch for detailed information on the specific services you can offer as an SBI CSP.