Page 37 - Banking Finance August 2022

ARTICLE

time, difficulties in reaching the bank and there is fear of
contracting the virus.

Advantages
1. For the customers DSB is convenient, hassle free and
flexible. Helps to maintain the social distancing in the
corona times. It is a boon for the not so tech-savvy
customers, seniors and differently-abled persons.
2. Customers can also track their service request and
register their complaints and grievances through the
universal touch points -Mobile App, Web Portal and Call
Centre.
3. Registration through social media platforms- Recently,
the two major public-sector banks in the country- SBI
Challenges
and PNB- have notified of these services and their
registration options to customers via their Twitter 1. DSB services are available in limited number of centres
handles. in the country.
4. Notifications will be sent to customers at each step of 2. Account holders with a valid registered mobile number
the service availed, helps to avoid frauds. within mentioned radius of their home branch only will
be able to avail these services.
5. Customer can avail multiple services of different banks
at the same time, if you are a customer of different 3. Customers with accounts that are operated jointly will
public sector banks with the same primary phone not be able to avail these services. The service will also
number. be unavailable for minor account and accounts of non-
personal nature.
6. Competition among banks will help for improved
customer service 4. Charges applicable for service rendered
Banks charge anywhere between Rs. 60-200 (plus
7. In case of banks, these services would enhance their
taxes), for every DBS request. For services to be offered
CASA portfolio, high level of Customer Retention,
through their alliance, PSBs would charge Rs. 75 (plus
reducing work load in branches and lead to high level
taxes) per financial/ non-financial service. Varies with
of customer satisfaction.
type of service and banks.
8. Dedicated and professional agents makes DSB, a safe
5. Capped transaction amounts
and secure service when compared to the risk
HDFC Bank and SBI have capped the transactions at Rs.
associated with digital banking.
25,000 and Rs. 20,000. Minimum and maximum
To avoid frauds
withdrawal as in www. psbdsb.in is Rs. 1000 and Rs.
Don't download any application from unauthorized
10000 respectively.
sites/portals
6. Long processing time
Don't handover the instrument to agents without
Currently, the responses are not instant, unlike the
verifying the credentials/ID Proof
conventional internet or mobile or phone banking
Don't accept any instrument without any sealed
services and hence it may not be suitable for time-
envelope
bound transactions.
The instruments should be handed over to agents
in sealed envelop with affixed stamp 7. Services available in working days only
Don't share the service code to any unknown Most banks offer these doorstep banking facilities on
person working days only and banks take anywhere between
Ensure vendor is authorized to provide service at few hours to one or two working days to process a
particular center request.
BANKING FINANCE | AUGUST | 2022 | 37