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How to Pick Mutual Funds That Beat the Market

  Smart Strategies for Investing in Mutual Funds: A Guide to Maximising Your Returns One of the most well-liked investing options for people looking for expert management and diversification without having to choose individual equities is a mutual fund. One of the easiest ways for people to accumulate wealth over time is through mutual fund investments. Mutual funds combine the capital of numerous individuals to invest in a diverse portfolio of stocks, bonds, and other securities, in contrast to direct stock market investing, which necessitates considerable time, study, and risk tolerance. Mutual funds are a well-liked option for both new and experienced investors due to their expert management and diversification. But merely investing in a mutual fund and crossing your fingers seldom yields the best outcomes. A comprehensive approach that matches the appropriate fund selection and management strategies with your financial objectives, risk tolerance, and investment timeline is nece...
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What is a Mini Bank or Customer Service Point or Kiosk Banking?

What is a Mini Bank or Customer Service Point or Kiosk Banking?

 


This is the best way to provide banking access to people in rural areas and to provide employment to the educated youth of rural areas. A good way of earning is to open a mini bank. For this, you will have to contact that bank directly. There are two ways you can earn by opening a mini bank. One is that you will get a fixed salary from the bank with which you will join, after which you will get a commission on whatever banking services are given to the customer through you. In such a situation, you can easily earn 25-30 thousand rupees every month.

 

Kiosk banking is the central idea of the Reserve Bank of India. It has been started for people living in villages or other remote areas who are not able to get banking services due to non-receipt of a bank branch in their neighbourhood. In such a system, the person does not need to go to the bank to get banking services. SBI Kiosk is the largest among the major banks offering Kiosk Banking.

 

What is a Mini Bank or Customer Service Point or Kiosk Banking?

 

This is a customer service centre where you have to provide services like transferring cash, transferring cash from one account to another, to the already existing customers of a bank. Any educated person can open a 'Mini Bank'. Through which you can easily earn a significant amount every month. The opportunity to open a mini bank is available under the Pradhan Mantri Jan Dhan Yojana. Under which you will be able to provide banking services from the city to the villages. The special thing is that by doing this, you will get a fixed salary from banks every month. Which will be different from the income from your business.

 

The bill payment service is determined based on the tie-up with the service bank and the service provider. In this case, the bill payment service is determined on a different bank basis. The following services are offered under Bill Payment Service, Mobile Recharge, DTH Recharge, Post Paid and Land Line Phone Bill Payment, Electricity Bill Payment, Data Card Recharge, PAN Card Service, Ticket Booking, Collection of premiums for all types of insurance services.

 

Where can a Mini Bank are opened?

 

Whoever wants to open a customer service point or contact the bank directly. Under this, the public sector as well as private sector banks can also be connected. Any person can open a customer service point in their nearby cities, small towns and villages. In the city, these are opened on the basis of wards. Whereas in villages, banks select bank friends and customer service points based on their area.

 

Any person who is more than 18 years of age can open a customer service point. Apart from this, any company can also apply to become a bank friend.

 

Documents required to open Customer Service Point (Mini Bank), Resident Proof, ID Proof (any government recognized ID other than Aadhaar Card, PAN Card, Driving License), Business Address Proof (Electricity Bill, Telephone Bill), Character Certificate (verified by police), 10th mark sheet, two passport size photos, bank account details, passbook, cancellated cheque.

 

A person desirous of opening a customer service point or must have at least 100 sqft of space. Apart from this, an investment of 50-60 thousand rupees is required for desktop or laptop, internet connectivity (broadband or dongle), scanner and printer. The bank also offers a loan to open a customer service point. Under this, a total loan of 1.25 lakh rupees is given, in which 50 thousand rupees are given for vehicles, 50 thousand rupees for laptops, printers and scanners and 25 thousand rupees as capital for starting work.


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