International Research journal of Management Science and Technology

  ISSN 2250 - 1959 (online) ISSN 2348 - 9367 (Print) New DOI : 10.32804/IRJMST

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BUSINESS CORRESPONDENT MODEL – AN INITIATIVE BY RBI

    2 Author(s):  SARIKA, PROF. RAJKUMAR

Vol -  11, Issue- 1 ,         Page(s) : 170 - 174  (2020 ) DOI : https://doi.org/10.32804/IRJMST

Abstract

The main objective of Indian banking sector is universal financial Access to the people at affordable cost to the vast sections of underprivileged and low income groups. They need to be provided assistance on the demand side in terms of financial awareness and literacy as well as on the supply side. To meets this prerequisite, Reserve Bank permitted banks to utilize the services of intermediaries of business correspondents (BCs) and business facilitators for providing financial and banking services for accelerating the flow of credit to those who not accessible banking services by formal banking system.

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