Baroda CSP stands for “Baroda Customer Service Point” it is a business correspondent of a bank that provides banking services to the customers in the unbanked and under-banked areas of India. Baroda CSPs are authorized to provide services such as opening new accounts, depositing and withdrawing money, and making loan applications on behalf of the bank. They are also authorized to issue and encash government-issued cheques, such as pension and salary cheques.
It’s a program of the Bank of Baroda (BoB) to provide banking facilities to the unbanked and under-banked areas of India. They will act as a business correspondent of the bank and will provide basic banking services like opening of accounts, deposit and withdraw money, loan applications, and other services to the customers in the remote areas.
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