• Sesame
• 13 Jun, 2019

Business correspondents (BCs) are individuals or groups (like NG0s, gram panchayats, societies etc.) who act as the representatives of banks in order to provide banking services to the unbanked and under banked population. The model was introduced in India in January 2006 by the RBI where banks utilize middlemen for serving the rural population with basic financial facilities at the convenience of their doorsteps.
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