State Bank of Bikaner & Jaipur (SBBJ), a Public Sector Bank introduced Financial Super Market concept in Jaipur on 08.08.2012. SBBJ Financial Super market branch at Jaipur primarily sell and service products of its Channel partners like SBI Life, Mutual Fund, SBI General and SBI Card, both across the counters and through electronic means. The Channel partners have stationed their specialists at this Branch. SBBJ`s Financial Supermarket branch at Jaipur not only serves the walk-in customers but also provides online and direct support to all Bank Branches and customers across India. The Branch caters to the logistics and other requirements of all the branches of the Bank and acts as a one point contact of its Channel Partners. Response from the public to the initiative has been satisfactory.

This was stated by the Minister of State for Finance, Shri Namo Narian Meena in a written reply to a question in the Lok Sabha today.

DSM/RS/ka  

(Release ID :92426)

Financial Super Market expands bank distribution of third-party financial products via centralized branch with on-site specialists and nationwide online support. A public sector bank established a Financial Super Market branch to centralize sale and servicing of channel partners' products, hosting partner specialists on site and providing both counter and electronic distribution. The branch serves as a single point of contact and operational hub for partner liaison, logistics and nationwide online support to other bank branches and customers.