APGB

Financial Inclusion implies access to a formal Bank Account that should pave the way for delivery of the entire gamut of financial services essential for economic welfare. FI entails bringing new customers with no credit history into the field of main stream banking by making available banking services in their own village without having to go to a different place which involves cost as well as loss of daily wage.

Financial inclusion means connecting all individuals including those living in the remotest of rural areas to a well-functioning financial system and would include-

Easy access to bank accounts for safe parking of savings
Availability of cheap credit through appropriately designed loans for poor and low income households and small entrepreneurs
Availability of basic financial products like micro insurance covering not only life and death but also crops, assets and accidents
Provide safe money transfers
Provide financial counseling and advice
Provide add on services like agricultural portals.
Extensive usage of unique identifiers like Aadhaar to facilitate hassle free biometric identification of customers to facilitate banking transactions and their authentication.

Business Correspondents

Business Correspondents are financial intermediaries engaged by Banks for the purpose of providing financial and Banking services to the financially excluded persons.

Bank is having a network of 995 Business Correspondent’s and has implemented the following services at BC points for providing Banking facilities to customers at their doorsteps;

e-KYC based online Savings Bank account opening from 28.05.2021.
Third Party Credit facility from 01.03.2019.
RD account opening facility from 23.01.2019.
SHG Dual Authentication from 15.10.2018.
RuPay Card Off-Us facility from 16.07.2017.
AePS Off-Us facility from 12.08.2016.
RuPay Card On-Us facility from 07.05.2016.
AePS On-Us facility from 24.07.2015

Entities eligible for appointment as Business Correspondents (BC/TSP):

NGOs/MFIs set up under Societies/ Trust Acts
Cooperative Societies registered under Mutually Aided Cooperative Societies Acts or the Cooperative Acts of States/ Multi State Cooperative Societies Act.
Section 25 companies.
Post Offices.
Retired Bank employees
Ex-Service men.
Retired Govt. Employees.
Individual kirana/ medical/fair price shop owners.
Individual Public Call Office (PCO) operators.
Agents of small savings schemes of Government of India/ Insurance Companies
Individual who own petrol pumps.
Retired teachers.
Authorized functionaries of well-run Self Help Groups (SHGs) linked to banks.
Individual members of Farmer’s Clubs.
Individual members of Self Help Groups.
Individual operators of Rural Multipurpose kiosks/ Village Knowledge Centers
Individuals/ proprietors/ owners who manage Agri Clinics/ Agri Business Centers.
Retired Post Masters.
Individuals such as auto dealers, tractor dealers and FMCG stockiest.
Insurance agents including of private insurance companies (IRDA certified) and postal agents.
Individuals operating Common Services Centers (CSCs) established by Service Centre Agencies (SCAs) under the National e-Governance Plan (NeGP).
Companies registered under the Indian Companies Act 1956 with large and wide spread retail outlets, excluding Non-Banking Financial Companies (NBFCs).
Payment Banks as per RBI Guidelines/Approved by RBI.
Any other individual considered suitable by the bank.