Business Correspondents
Our expert Business Correspondent’s (BC) are ready to help you through all the banking realted work. Like collecting small value deposits, disburse and recover small value loans; receive and send small value remittances; cross-sell third party products such as micro insurance, mutual funds and pension products, and engage in bill payments for services.
Business Correspondents (BCs) are agents appointed by banks and financial institutions to provide banking and financial services in areas where traditional banking infrastructure is limited.
BCs act as intermediaries between the bank and its customers, and they typically operate in remote or underserved areas, providing banking services to people who otherwise would not have access to these services. BCs are authorized to conduct a range of banking services on behalf of the bank they represent, including opening accounts, accepting
Our expert Business Correspondent’s (BC) are ready to help you through all the banking realted work. Like collecting small value deposits, disburse and recover small value loans; receive and send small value remittances; cross-sell third party products such as micro insurance, mutual funds and pension products, and engage in bill payments for services.
Business Correspondents (BCs) are agents appointed by banks and financial institutions to provide banking and financial services in areas where traditional banking infrastructure is limited.
BCs act as intermediaries between the bank and its customers, and they typically operate in remote or underserved areas, providing banking services to people who otherwise would not have access to these services. BCs are authorized to conduct a range of banking services on behalf of the bank they represent, including opening accounts, accepting
deposits, providing loans, and collecting loan repayments. They use handheld devices and other technology to provide banking services to customers in their homes or businesses. The concept of Business Correspondents was introduced in India in 2006 as a way to extend banking services to rural and remote areas. Since then, the program has been successful in reaching underserved populations and promoting financial inclusion. BCs have also been used in other countries, including Kenya, Bangladesh, and Indonesia, to provide banking services to people in rural areas. Overall, Business Correspondents play an important role in promoting financial inclusion and expanding access to banking services, particularly in areas where traditional banking infrastructure is limited. They have helped to bridge the gap between banks and underserved populations, and their role is likely to become even more critical as the demand for digital banking services continues to grow.
