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Feel free to ask any question Mail Us: bankbc.in@gmail.com Financial inclusion | Application - Activation Process | FAQ'S

Who/What is Banking Business correspondent?

  • Banking Business correspondents are bank representatives.
  • They help villagers to open bank accounts.
  • They help villagers in banking transactions. (deposit money, take money out of savings account, loans etc.)
  • The Banking Business Correspondent carries a mobile device.
  • The villager gives his thumb impression or electronic signature, and get the money.
  • Banking Business Correspondents get commission from bank for every new account opened, every transection made via them, every loan-application processed etc.
Who can become Bank Business Correspondent for Banks?
  • Non-Governmental Organisations(NGOs)
  • Self Help Groups (SHGs)
  • Micro Finance Institutions (MFIs)
  • Post Offices
  • Insurance agents
  • Panchayats
  • Civil Society Organisations (CSOs)
  • Farmersí clubs
  • Community based organisations
  • Cooperatives societies
  • Village Knowledge Centres
  • Agri Clinics/ Agri Business Centers
  • Krishi Vigyan Kendras
  • Khadi and Village Industries units
  • Corporate entities with IT outlets in rural parts.