Aadhaar-Based Enrolment For Social Security Schemes Is Announced By SBI

The State Bank of India (SBI), the biggest public sector lender in India, on Friday revealed a Customer Service Points (CSPs) capability that would enable users to enroll in social security programs using their Aadhaar cards.

Dinesh Khara, the chairman of SBI, introduced the cutting-edge Customer Service Points (CSP) capability, which enables simple Aadhaar-based social security program enrollment. The newly provided capability seeks to streamline the application procedure for several social security programs.

Dinesh Khara, the chairman of SBI, said at the time, “Our aim is to empower every strata of society by eliminating the obstacles that stand in the way of access to financial stability. This technological improvement demonstrates SBI’s dedication to using digitalization to increase financial inclusion and social welfare.

“By lowering the obstacles to obtaining financial stability, we want to empower every level of society. This technologically driven improvement demonstrates SBI’s dedication to advancing financial inclusion and social welfare via digitalisation, he said.

The bank said that by using this simplified strategy, it hopes to improve the environment for financial inclusion by coming up with innovative solutions that directly benefit the lives of disadvantaged and marginalized groups in society.

To enroll in programs like the Pradhan Mantri Jeevan Jyoti Bima Yojana, the Pradhan Mantri Suraksha Bima Yojana, and the Atal Pension Yojana, customers visiting CSPs would just need their Aadhaar cards.

With this feature, SBI hopes to improve its products and spread the advantages of important programs among more people. SBI has market shares of 33.4% for house loans and 19.5% for vehicle loans, respectively.

SBI shares decreased 1.26% on Friday to settle at Rs 569.70 a share.