APN News

  • Saturday, February, 2024| Today's Market | Current Time: 05:51:58
  • State Bank of India launches TAB banking and e-KYC

    Published on April 15, 2014

    Mumbai: Mrs. Arundhati Bhattacharya, Chairman State Bank of India launched three digital banking facilities for the convenience of SBI customers. Two at the customer’s door step using TAB banking – one for customers opening Savings Bank accounts and another for Housing Loan applicants. The third is e-KYC (Know your Customer).

    Tab bankingSBI will offer its valued customers the facility of opening accounts at their door step through Tab Banking. The sales staff of SBI will visit the customers at their home and using the tablets get the formalities completed for account opening like details of KYC and photographs of applicant. These will be loaded on the CBS and the account number will be sent to the customer through SMS/e-mail. This will provide convenience and time saving to the customer for opening accounts with SBI.

    SBI will also offer TAB banking facility at the place of the Housing Loan applicant, for in-principle approval of home loan. The Home Loan Sales Team will visit the applicant and capture on the tablet KYC details, information on the income & deductions and details of the proposed property purchase (House/Flat). Based on the income data furnished and cost of the project, the applicant will be advised on the approximate housing loan amount eligible and the EMI amount. The applicant will get in principle approval for the proposed Housing Loan through email.  The actual loan will be processed subsequently subject to usual formalities.

    State Bank of India also announced the launch of e-KYC services. Under this facility, e-KYC certificate is generated as an identity document. Fingerprints of the customer are captured and sent to UIDAI for authentication of identity and address proof.  On successful verification from UIDAI, the e-KYC service will respond to display demographic details like [Name, year/date of birth, Gender, Address, Phone, email (if available)] and photograph. The e-KYC facility also has a provision to print and issue an e-KYC certificate which is embossed with Quick Response (QR) Code to avoid duplicate printing of the certificate by third party. The certificate will be used to open an account subject to satisfying other account opening requirements.

    The facilities will be rolled out across the SBI network in a phased manner.

    Source: Lokesh Shastri


    Leave a Reply