Business Correspondent (BC)
Business correspondents are bank representatives. They help villagers to open bank accounts. Business Correspondents get commission from bank for every new account opening, every transaction made via them, every loan-application processed etc. The Business Correspondent carries a mobile device and helps villagers in banking transactions. (Deposit money, take money out of savings account, loans etc.). The villager gives his thumb impression or electronic signature, and gets the money.
Appointment of BCs
- Must be a permanent resident of the area in which they propose to operate. They should be well established, enjoy good reputation and have the confidence of the local people.
- The ability of BCs to invest in POS machines and other equipments. In case of individuals Selected as BCS, the criterion is as under: A minimum education qualification of Xth pass. Field Investigation /RCU for verification of residence and dealings, etc. to be conducted.
- Credibility check – A/c with any other bank. Should open account with Bank (base branch)
- Suitable amount of Security deposit /Bank guarantee based on business Volumes.
Examination Registration Non-members candidates.
Online Complaints: https://iibf.esdsconnect.com/CmsComplaint
Application for duplicate certificate.
