Business Correspondent & Business Facilitator

Partner

INDUS EDUTRAIN Pvt. Ltd.

Partner N.S.D.C Corporate Office Address:

AD – 76, Sec – I ,Salt Lake City,Kolkata - 700064

www.indusedutrain.comPromoted by:

Indus Integrated Information Management Ltd.

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Business Correspondent & Business Facilitator

Partner

Session 1: Introduction

Course:

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• With the objective ofensuring greater financialinclusion and increasingthe outreach of thebanking sector, theReserve Bank of India haspermitted the Indian banksto appoint BusinessCorrespondents &Business Facilitators as anextended arm of the bank’sbranch.

Business Correspondent & Business Facilitator

Partner

INTRODUCTION

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• The BusinessCorrespondents (BCs) &Business Facilitators (BFs)are representativesappointed by banks to actas their agent and providebanking services in remotelocations where the bankdoes not have a presencein order to promotefinancial inclusion.

Business Correspondent & Business Facilitator

Partner

INTRODUCTION

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• The fundamental difference inthe role of the BC and BF is thatBCs are permitted to carry outregular transactions forcustomers on behalf of the bank.

• BFs are only responsible forspreading awareness related tobanking and bank's products,assisting the bank in businessgeneration activities andrecovery of bad debts. However,they do not undertake any cashtransactions.

Business Correspondent & Business Facilitator

Partner

INTRODUCTION

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• Currently there are about 2.5lakhs BCs providing bankingservices in India.

• With various CentralGovernment initiatives likethe Pradhan Mantri Jan-DhanYojana and RBI grantinglicences to several new bankswith an intention to reach outto the unbanked populationof India, the need for BC/BFsis increasing day by day.

Business Correspondent & Business Facilitator

Partner

INTRODUCTION

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• A BC/BF should be well versedwith not only the bankingproducts, but also with latesttechnologies like POS devices,Micro ATMs, Bio Metricdevices, etc, to provide theirservices effectively to theircustomers.

• The individual is required tohave good interpersonal andproblem solving skills.

Business Correspondent & Business Facilitator

Partner

INTRODUCTION

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• The individual must be self-driven and organized withtheir work and act withintegrity when performingmultiple tasks for thecustomers.

• They also need to be wellaware of the latestdevelopments in the bankingspace and have excellentcommunications skills.

Business Correspondent & Business Facilitator

Partner

INTRODUCTION

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• Last but not the least, they should be extremelyhonest and sincere in their approach, sincethey will be handling important documents aswell as cash for their customers, whereintegrity cannot be compromised.

• With an honest and sincere approach, a BC/BFcan definitely go-up the corporate ladder intheir organisation and build a successfulbanking career.

Business Correspondent & Business Facilitator

Partner

INTRODUCTION

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Check Your Progress

1) Which of the following is the primary

objective of appointing Business

Correspondents & Business Facilitators?

i. Ensuring greater financial inclusion

ii. Increasing the outreach of the banking sector

iii. Both (i) and (ii)

iv. None of the above

Business Correspondent & Business Facilitator

Partner

INTRODUCTION

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Check Your Progress

2) In order to reach out to the unbanked

population of India, _______________ can

grant license to several new banks.

i. Central Government

ii. Reserve Bank of India

iii. State Government

iv. Any of the above

Business Correspondent & Business Facilitator

Partner

INTRODUCTION

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Check Your Progress

3) In order to provide services effectively to the

customers, by what should a BC/BF should

be versed with?

i. Only with banking products

ii. Only with latest technology

iii. Both (i) and (ii)

iv. None of the above

Business Correspondent & Business Facilitator

Partner

INTRODUCTION

An

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