Business Correspondent for SBI and Bank of Baroda | Alankit.in

1. Press Release Videos Business Correspondent Ensuring superior financial inclusion and increasing the outreach!!! Enquire now Overview Enquiry Business Correspondents are retail agents who represent banks and are responsible for delivering banking services at locations other than a bank branch/ATM. BCs support banks in providing its limited range of banking services at affordable cost. Thus, they are pivotal in promoting financial inclusion. According to the RBI’s mandate, the products offered by BCs include Small Savings Accounts, Fixed Deposit and Recurring Deposit with low minimum deposits, Remittance to any BC customer, Micro Credit and General Insurance. The BC model helps banks in bringing door-step delivery of services especially ‘cash in - cash out’ transactions in areas which are to nearer to the rural population, thus resolving the issue of last-mile delivery. Form Alankit as Business Correspondent As a business correspondent for State Bank of India and Bank of Baroda, the company facilitates banking services to the citizens at any given location and time, as and when required by these banks. Being a service provider for both, Alankit essentially helps with enrolling the customers and enabling their transactions at the Customer Service Points (CSPs) aside from sourcing various deposit and loan products of the bank as a business facilitator. This way it reaches some of the remote areas as the bank’s official agent, thus, promoting not just the bank’s business growth but financial inclusion in the country as well. Scope of Activities Business Correspondent, who serves as a crucial link between end users of banking services and the banks which they represent, are responsible for undertaking a gamut of responsibilities. They are responsible for identification of potential customers and ... generating awareness about savings and other products offered by banks as well as offering debt counselling and advice on money management. One of the major tasks handled by Business Correspondents is the collection and preliminary processing of various forms for deposits including verification of primary information or data, filling of applications / account opening forms including nomination clause and submission to the bank. Business Correspondents (BCs) also execute various tasks such as completing the KYC process for the customers, opening of no frill deposit accounts and other products offered by the bank, furnishing of account information like mini account statements as well as cross-selling of other financial products by the bank. They undertake activities that would be within the normal course of the banking business of the concerned bank, but organised through and by entities at places other than the bank's premises. Moreover, BCs manage the collection and payment of small value deposits and withdrawals, that is, a maximum of Rs. 2,000 per transaction as well as receipt and delivery of small value remittances / other payment instruments. The representative, for all such transactions, is authorised by the concerned bank to accept or deliver cash either at a kiosk or his place of work or any suitable location, subject to the ceilings per day/ per customer which is Rs. 2000 in each case. Apart from these, BCs deliver any other service on behalf of the bank, duly authorised by the concerned authority. They are also entrusted to take care of reputational risks involved in cases of duly appointed sub-agents of the business correspondents.   Show more >

2. Why Choose Alankit? Current BC channel partner for State Bank of India and Bank of Baroda 6120 Business Locations 50 active branches Customer selling points 200 CSPs arrangement currently under activation process Preferred BC of Private Sector Banks like Kotak & Yes Bank Robust monitoring mechanism for BC business activities Dedicated support in every key business region for CSPs Enquiry Form businessenquiries@ +91- 97-17-858- 585 Instant Call Back Name* Email Id* Mobile Number* Select Service* Select State* Select City* Message SUBMIT Our Services Other Links National Insurance-Policy Repository (NIR) Scanning & Digitization of Medical Records GST Billing Software GST Registration SBI Kiosk Banking Apply New PAN Card Online Apply Duplicate PAN Card PAN Card Correction TIN-Facilitation & PAN Center(TIN-FCs) Aadhaar Services GST Suvidha Provider (GSP) Manpower Services National distributor of card printers and accessories Paper to Follow (P2F) Business Correspondent (BC) Atal Pension Yojana (APY) National Skills Registry (NSR) Careers Vendor Registration Privacy Policy Disclaimer Mobile Apps Form Center Contact Us Testimonial FAQs Find the Nearest Branch Share Feedback Blog Alankit.com Subscribe to Newsletter Enter Your Email Address Go 205-208, Anarkali Complex, Jhandewalan Extension, New Delhi, Delhi 110055. 011 4254 1201 +91-97-17-858-585 © 2019 Alankit. All rights reserved.