Business correspondents act as aid to financial inclusion: BoB
By Vaibhav Aggarwal
May 3, 2010
Print    Email    RSS   

Bank of Baroda has taken the aid of business correspondent model to go ahead with its motive of financial inclusion. The bank has plans to spread its services across 6000 villages in the upcoming years.

These villages would be served by around 1500 business correspondents who will not only cater to the deposit facility but would also offer loans and micro insurance products to the villagers.

The RBI had declared that all banks should come up with a financial inclusion plan by March following which BoB has come up with this plan which gives a major role to business correspondents.

It is suggested by sources that BoB has developed a technology based model which would be providing services to all villagers.

The plan says that each business correspondent would be provided a smart card based device which has a biometric identification system.

"An individual's bank account can be operated by this device. The business correspondent only needs to verify the individual through the device and once it's done, the service is provided,'' the source said.

Financial inclusion is the prime need of the hour- as has been declared by the RBI and the Centre.


(Comments Posted : 1) Post Your Comments
1. hum business correspondents bob me financial inclusion work /kam karte hain our sabhi bank ki subhidhayen and infomation bhi dete hai fir bhi sailry ka prabdhan kyon nahi kiya jata hai hume to sirf comision milti hai kripya karke comision ki jagha sailry prabdhan karne ki kripya karen ?
anil kumar (Posted: Jun 10, 2014)
Show All Comments
 Select a product:

 Select a product:

Personal loans in India: Features and...
What to look for while taking a personal loan
Personal loan EMI calculator from RupeeTimes
Carnival of Indian Personal Finance Blogs # 7
BPLR or Base rate?? Which is better…?

+27638167664?>) Abortion Pills For Sale 50% Off In...
RANDBURG ][••• +27737230265•••][* Legit...
Call //whtp +2773/72/30/265 abortion clinic in Abu...
HOTEL: CaℒL Giℛℒs In Kharar 09855660911...
Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan

LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive