What is CSP for Banking in India and Paythrough's Role in Making Digital Payments
India being a massive country, present a major economic challenge to the Indian banking institutions, i.e., to be present physically in every knock and corner of the country. But they cannot ignore people in the rural areas. This thus has given rise to digital banking, which now is offering a natural solution to the problems. RBI banks CSP programs encourage individuals and companies to start banking kiosks in distant places where regular banking institutions are not available. So here, check out how it is impacting the rural people lives. What is CSP? Customer service point or CSP is also known as a business correspondent or Bank Mitra. The idea was started under the public, private partnership model, where the CSP provider company in India works as a representative or agent for a particular bank. They offer various banking services like deposit and withdrawal of money, payment of utility bills, applying for debit or credit cards, etc. In simple words, they are...
