The Full Form of ‘CSC’ in Banking is ‘Common Service Centres’.
Full Form of CSC
CSC stands for Common Service Centres, and it is a concept initiated by the Government of India as part of its e-governance initiative. It is a network of service centres that provide government services to citizens in rural and remote areas at an affordable cost. The CSCs are also known as Village Level Entrepreneurs (VLEs).
The CSCs are set up with the objective of providing public services such as banking, insurance, education, health care and other social benefit schemes to the citizens of rural India. The CSCs act as an interface between the government and its citizens. They provide access to various government services such as filing applications for various government schemes, registering for various social security benefits, applying for birth certificates and other documents, etc.
In addition to providing these services, the CSCs also facilitate financial transactions such as money transfers, bill payments and more. This helps people in rural areas access banking services without having to travel to urban cities or big towns.
The Government of India has partnered with banks like SBI, ICICI Bank, HDFC Bank etc., to enable customers in rural areas access banking services through these CSCs. The banks have provided training to VLEs on how to use banking technology so that they can provide these services efficiently without any hassles or delays.
In addition to this, banks have established kiosks in CSCs where customers can open bank accounts easily and quickly with minimal paperwork involved. This helps customers save time and effort while availing banking services from their local common service centre. Customers can also access online banking with internet enabled mobile phones or tablets available at the CSC outlets.
Overall, the full form of ‘CSC’ in Banking is ‘Common Service Centres’, which are set up by the Government of India as part of its e-governance initiative to provide essential public services such as banking, insurance and other social benefit schemes at an affordable cost for citizens living in rural areas who otherwise would not have access to these facilities due to lack of resources or infrastructure. Banks have partnered with the Government of India by providing training on using technology at these centres so that customers can avail all required banking services conveniently from their local CSC outlet itself without having to travel long distances for them
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