With the objective of ensuring greater Financial Inclusion and increasing outreach of the banking sector, Banks have been permitted to use the services of NGOs/SHGs, Micro Finance Institutions (MFIs) and other Civil Society Organizations (CSOs) as intermediaries in providing Financial and Banking services through the use of Business Correspondent Model. Business Correspondent is an extended arm of the Bank Branch who is providing Financial and Banking services to the customers in unbanked and underbanked areas. Our Bank empanel Corporate Business Correspondents who in turn deploy Individual Business Correspondents at the allotted BC locations. At present, Bank has empaneled 25 Corporate Business Correspondents and they have deployed 19000+ Business Correspondents PAN India for serving unpenetrated and under penetrated geography of the country. Services available at BC outlets: Sr. No. Details of services available at BC outlet 1. Account Opening 2. Cash Deposit (Own Bank) 3. Cash Deposit (Other Bank- AEPS/ RuPay Card) 4. Cash Withdrawal (On us) 5. Cash Withdrawal (Off us) 6. Fund Transfer (Own Bank) 7. Fund Transfer (Other Bank- AEPS/ RuPay Card) 8. Balance Enquiry (Own Bank) 9. Balance Enquiry (Other Bank- AEPS/ RuPay Card) 10. Mini Statement 11. Enrolment of Pradhan Mantri Suraksha Bima Yojna (PMSBY) 12. Enrolment of Pradhan Mantri Jeevan Jyoti Bima Yojna (PMJJBY) 13. Enrolment of Atal Pension Yojna (APY) 14. IMPS 15. Recovery/ Collection up to Bank approved limits 16. NEFT 17. Term Deposit/ Recurring Deposit Opening 18. Request for new Cheque Book 19. Stop Payment of Cheque 20. Cheque Status Enquiry 21. Renewal of Term Deposit/ Recurring Deposit 22. Block Debit Card 23. Launch Complaints 24. Track Complaints 25. Request for SMS alert/ e-mail statement (if mobile no./ e-mail is already registered) 26. Pension Life Certificate authentication through Jeevan Pramanam (Aadhaar enabled) 27. Apply for RuPay Debit cards
Business Correspondent (BC) Model
