Multiple choice

Business Correspondent (BC) is term referring to which of the following sectors?

  1. Banking

  2. Insurance

  3. Capital Markets

  4. Mutual Funds
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A Correct answer
Explanation

Under the Business Correspondent (BC) model, the RBI is keen on encouraging banks to expand their services to the village-level by building a network of BCs, such as kirana shops and NGOs, to provide basic banking services through a well-monitored and regulated platform. The BCs, in essence, will perform the task of micro-ATMs, without actually having to invest in setting up an ATM and other support services.

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