The Full Form of KIOSK is‍ Kommunikasjon Integrert Offentlig Service Kontor.

Kiosk banking was introduced by the Reserve Bank of India(RBI) to facilitate primary banking services to the poor and low-income group localities at a reasonable cost without the need for visiting the bank. KIOSK is ‘Kommunikasjon Integrert Offentlig Service Kontor’.

It is an initiative to benefit the poor section of the society who usually are daily wage earners, who cannot maintain a minimum balance in bank accounts, who cannot travel long distances to avail banking facilities since it’s difficult to find banks next door in villages and remote areas.

Content: Kiosk Banking

1. Features
2. Customer Service Point (CSP)
3. Kiosk Machine
4. No-Frills Bank Account
5. Services Offered
6. Functioning
7. Benefits
8. Conclusion

Features of Kiosk Banking

Kiosk banking is a recent development in banking technology after the ATMs; it provides numerous additional features.

Several features which distinguish a kiosk banking outlet from an Automated Teller Machine (ATM) are described below:

• Account Inquiries: Kiosk banking provides for making cheque book request, checking account balance and printing mini statement.
• Customer Support Tools: The customer can clarify queries from help desk agent through video conferencing.
• MIS Reporting: It leads to minimising of bank’s workload by facilitating the creation of the customer’s database and MIS reports.
• Cheque Deposit Facility: It has made cheque depositing easier for banks.
• Internet Banking: It provides for net banking facility to the consumer, like online transactions.
• Marketing Tool: Situated in a high traffic area, a kiosk banking outlet attracts customers due to increased visibility.