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Updated List of BC/BF as on 17 Nov 2014

Business Correspondents/Business Facilitators


The main objective of ensuring greater financial inclusion and increasing the outreach of the Bank combined with the need to substantially increase our market share in the rural and semi-urban areas.

  • To provide comprehensive financial services to the underprivileged encompassing savings, credit, remittance, insurance, Mutual Funds and pension products in a cost effective manner, particularly in untapped / unbanked areas.
  • To improve process efficiencies and reduce transaction costs by providing linkages between the existing network of our Branches and the informal and formal agencies engaged with the poor, by adopting technology based solutions.
  • To leverage on the strengths of intermediaries in accelerating the process of financial inclusion.

(1) Business Facilitator Model :

a) Eligible Entities :

  • NGOs
  • SHGs
  • Farmer's Clubs
  • Functional cooperatives
  • Community based organizations
  • I.T. enabled rural outlets of corporate entities
  • Well functioning Panchayats
  • Rural Multipurpose kiosks / Village Knowledge Centers
  • Agri Clinics / Agri Business Centers
  • Krishi Vigyan Kendras
  • KVIC / KVIB units
  • Post Offices
  • Insurance agents
  • Social organizations
  • Individuals such as retired Post Masters and retired School/College Teachers
  • Individuals such as auto dealers and FMCG stockiest, postal agents, insurance agents of private insurance companies (IRDA certified)
  • Retired Govt. employees, Ex-servicemen and retired Bank employees
  • Common Services Centers (CSCs) established by Service Centre Agencies (SCAs) under the National e-Governance Plan (NeGP). While engaging CSCs as BFs, proper due diligence and adequate precautions need to be taken.
  • Bank employees who have retired on superannuation alone will be eligible.
  • Any other entity, as may be specified by RBI from time to time.
  • Relatives of staff members defined as per the extant instructions are not eligible for engagement of Business Facilitators.

b) Selection Criteria :

  • Should know the local language/dialect.
  • Should satisfy the norms of due diligence as laid down.(Annexure of H.R. Khan Committee Report enclosed)
  • Should have knowledge about the area
  • Should not be affiliated to any political organization
  • Should have been referred by at least two persons known to the Bank and having satisfactory dealings with the Bank.
  • Should have a satisfactory track record of at least two years (organization).
  • The organization / office bearers / members should not have any criminal record (Police verification must be arranged conducted in respect of each applicant found suitable). The selection may however not be withheld for delay in receipt of the police verification (delay beyond 2 weeks).
  • Past dealings, if any, with the Bank should have been satisfactory.
  • Should not be a Director or officer/employee of the Bank or a relative having the same meaning under Section 6 of the Companies Act 1956, in the case of individuals and in the case of entities, be owned or controlled by such person(s).
  • Wherever felt necessary suitable sworn affidavit may be obtained.

(c) Activities :

  • Conducting financial and non-financial business activities i.e., cash transactions/handling.
  • Identification of potential customers and activities
  • Collection and preliminary processing of loan applications / account opening forms for deposits including verification of primary information / data
  • Filling of loan applications / account opening forms including nomination clause and submission to the Bank.
  • Cross-selling of other financial products like insurance / mutual fund products / pension products / any other third party product
  • Assisting in post-sanction monitoring and follow-up for recovery (only after complying with RBI instructions on recovery agents)
  • Promoting and nurturing Self Help Groups (SHGs) / Joint Liability Groups (JLGs), wherever relevant.
  • Creating awareness about savings and other products and education and advice on managing money and debt counseling.
  • Term deposits of minimum 6 months tenure will be sourced by BF.
  • In case of pre-mature encashment before one year, pro-rata basis commission is to be recovered from the BF. The name of the BF and the Code number should be entered in the system while opening the TDR account. A rubber stamp bearing the name & code number of the BF should be affixed on the Term Deposit / Special Term Deposit Receipt to track the sourcing of the deposit by the BC/BF.
  • Commission is payable only on new deposits. Deposits transferred from other Branches will not be eligible for commission.
  • Commission on renewal of deposits will be payable only if original deposit was brought in by the BF.
  • Will source only retail deposits. No Bulks/Public Sector/Govt. deposits.
  • As the entire objective of permitting bank to use Business Facilitator/Correspondent model is to extend savings and loan facilities to the underprivileged and unbanked population, these models should not be utilized for collecting NRE/NR(O) deposits which are generally of a large value.

3.Business Correspondent Model

(a) Eligible Entities :

  • NGOs / MFIs set up under the Indian Societies / Trust Acts
  • Societies registered under Mutually Aided Cooperative Societies (MACS) Act or the Cooperative Societies Acts of States
  • Banks can engage companies registered under section 25 of the Companies Act 1956 as Business Correspondents (BCs) provided that the Section 25 companies in which NBFCs, banks, telecom companies and other corporate entities or their holding companies do not have equity holdings in excess of 10%.
  • Post Offices
  • Retired Government and Bank Employees, Ex-servicemen

(b) Selection criteria :

In addition to the selection criteria prescribed for Business Facilitators, the under noted aspects would be considered while selecting Business Correspondents:-

  • Should satisfy the norms of due diligence as laid down.
  • They should be well established, enjoy good reputation and stature and have the confidence of the local people.
  • They should have significant rural / semi-urban presence.
  • The entity should have a satisfactory track record and should be able to generate the funds required for this service.
  • Should not be owned or controlled by any Director or officer/employee of the bank or a relative having the same meaning under section 6 of the Companies act, 1956.
  • Ability to invest in POS devices and other equipment.
  • Ability to retain the required cash balance at Point of Sale and the balance in the Current account on continuous basis. The selection authority should carry out a vigorous screening process.
  • The proposed individual BC should be a permanent resident of the area in which they propose to operate as required by RBI. A minimum educational qualification of Xth pass is stipulated as the BCs will need to handle cash, keep record of the transaction and cash balances.
  • Age in respect of individual BC should not be exceeding 65 at the time of selection, continuation subject to annual review of the performance, till the age of 75 years.
  • In case duly appointed BCs of the Banks, desire to appoint sub-agents at the grass root level to render the services of a BC, banks have to ensure that
    1. The sub agents of BCs fulfill all relevant criteria stipulated for BC in terms of the extant guidelines
    2. The BC appointed carries out proper due diligence in respect of sub agents to take care of the reputational and other risks involved.
    3. The distance criteria of 15 kms, as applicable from the base to branch in rural and semi urban centers should invariably be fulfilled in case of all sub agents.
  • Where individuals under permitted categories have been appointed as BCs, they cannot in turn appoint sub agents.
  • The entity should have a satisfactory track record and should be able to generate the funds required for this service.
  • Preference should be given to well regulate entities.

(c) Activities :

In addition to the activities listed under the Business Facilitators Model, the scope of activities to be undertaken by the Business Correspondents will include:

  • Opening of no frill deposit accounts under smart card.
  • Collection and payment of small value deposits and withdrawals (not exceeding Rs.10,000/- in each case)
  • Payment of disbursed small value loans (not exceeding Rs.10,000/- in each case) and obtaining prescribed documents
  • Receipt and delivery of small value remittances / other payment instruments (not exceeding Rs.10,000/-* in each case)
  • Payment / Receipt in respect of e-governance activity (not exceeding Rs.10,000/- *in each case) (detailed guidelines to be issued later)
  • In respect of all such transactions, the BC/ his agent will be authorized to accept / deliver cash either at his place of work or at any convenient location subject to the ceilings per customer(Rs 10000/- in each case).
  • Furnishing of mini account statements and other account information
  • Recovery of principal / collection of interest in respect of borrower accounts. In case of closure of loan accounts the ceiling for cash deposit will be Rs. 20,000/- (These ceilings are subject to revision). For recovery only after complying with RBI instructions on recovery agents.
  • Any other service on behalf of the Bank, duly authorized by the appropriate authority.
  • The activities to be undertaken by the Business Correspondents would be within the normal course of the Bank's banking business, but conducted through and by the entities at places other than the Bank's premises. The Business Correspondents will be linked to an identified branch. In respect of all such transactions, the BC/his agent will be authorized to accept / deliver cash either at his place of work or at any convenient location subject to the ceilings per day / per customer as laid down. The activities to be undertaken by the Business Correspondents would be within the normal course of the Bank's banking business, but conducted through and by the entities as indicated above at places other than the Bank's premises.The Business Correspondents / Business Facilitators will be linked to a nearby branch (Link Branch) and their activities will be scrutinized at random by the RM /Branch Manager or concerned desk Officer at RO.
  • As the entire objective of permitting bank to use Business Facilitator/Correspondent model is to extend savings and loan facilities to the underprivileged and unbanked population, these models should not be utilized for collecting NRE/NR(O) deposits which are generally of a large value.
  • Term deposits of minimum six months tenure will be sourced by BF/BC. In case of pre-mature encashment before one year, pro-rata basis commission is to be recovered from the BC. The name of the BC and the Code No should be entered in the system while opening the TDR account. A rubber stamp bearing the name & code No of the BC/BF should be affixed on the Term Deposit / Special Term Deposit Receipt to track the sourcing of the deposit by the BC/BF.

4. Area of Operation :

As required by RBI the individual BC/CSP will be linked to one or more branches (link or base branch) and the distance between the place of business of the BC and the base (link) branch should not exceed 30 kms in rural/semi urban areas.

5. Duties and Responibilities of BCs/BFs

  • Round the clock accessibility to the account holders. (Both BFs and BCs), minimum 12 hours from 8.00 A.M to 8.00 P.M. In case of national level alliances, as mutually agreed.
  • To ensure that the outlets are manned by reliable and knowledgeable persons so that business continuity is maintained.
  • Providing permitted Banking services on behalf of the Bank. (Both BFs and BCs)
  • Visit to the villages and approach households with application form for opening the account. (Both BFs and BCs)
  • Completion of account opening formalities and verification of applicant's details. (Both BFs and BCs)
  • Submission of enrollment data including photograph and fingerprint to the front end vendor. It will the responsibility of the BC to ensure correctness of the enrollment data.
  • Forwarding of completed account opening form with related documents to the identified link branch of the Bank for opening of account under the BF model. (BFs only)
  • Acceptance of cash from the account holder or his / her representatives. (BCs only)
  • Disbursement of cash to the account holder. (BCs only)
  • To ensure that daily cash withdrawal limit does not exceed Rs.10000.00 of an account holder. (BCs only)
  • Obtention of suitable cash Insurance cover for holding cash overnight and in transit. (BCs only).
  • All deposit A/c opening forms and loan applications sourced by BC/BF will bear the following rubber stamp " SOURCED BY BF/BC- CODE No.".
  • At the end of every month the BC/BF will claim the commission due from the respective Link Branch.

6.Remuneration/ Fees for engagement of Business Facilitators / Correspondents

  • For each of the services entrusted to Business Facilitators / Business Correspondents, remuneration will be paid as indicated in Annexure.
  • The Business Facilitators / Business Correspondents are prohibited from charging any fee from the customer directly for services rendered by them on behalf of the Bank, unless specifically approved by the Bank.
  • BCs/BFs will also be given specific targets for the various products marketed by them.

    7.Other Terms and Conditions for engagement of Business Facilitators and Business Correspondents :

    • The customers will also have the freedom to use Branch banking facilities even though the Business Correspondents are available in their locality or even if they were initially sponsored by the Business Correspondents.
    • The Selection Committees as described in para 2 above, may decide upon suitable limits for individual customer payments and receipts, depending upon the potential and volumes subject to the ceilings prescribed in the operating guidelines.
    • Transactions should be accounted for and reflected in the Bank's books by 'end of day'.
    • All agreements / contracts with the customer should clearly mention that the Bank is responsible to the customer for acts of omission and commission by the Business Facilitator / Business Correspondent.

      Waiver of Advertisement:

      i) For selection of BC:
      Advertisement in newspaper may be waived in case of
      1. National or Circle Level tie-ups with reputed corporate having I.T. enabled rural outlets or entities with an established presence (e.g. Reliance, ITC, etc)
      2. When the BC is a Government Department.(e.g. India Post)
      3. NGO's, MFIs already financed by us whose repayment and performance is satisfactory.
      4. In other cases, at the discretion of the selection committee.
      ii) For selection of BF:
      1. Where the area to be covered is small, like village, publicity in the form of a notice in the Branch, Panchayat office or any other Public place, may be resorted to.
      2. Where the entities are already banking with us and have a satisfactory track record, for eg. Farmers Clubs, Agri Clinics etc.
      3. In other cases, at the discretion of the selection committee. Efforts should be made to have exclusive relationship with BC / BFs. In a given geographical area, where the Business Facilitator is operating, they should not have relationship with any other Bank except us. The Business Facilitator may have relationship with other Banks in some other geographic area.

Updated List of BC/BF as on 17 Nov 2014

SNoDistrictVillageName of BCName of CSPBranch
1DehradunGumaniwalaRavidra Dutt Uniyal Satyanarayan
2DehradunKandoiJaipal Singh Lakhamandal
3DehradunDaguraChaman dass Makhti Pokhari
4DehradunJadiKripa Ram Korwa
5DehradunBhanjraDeewan Singh Sahiya
6HaridwarToda KalyanpurVikas Giri Mohanpura
7HaridwarNangla ImartiTelu Ram Kushwaha Mohanpura
8TehriThatiBhupendra Singh Negi Thati
9TehriDoniPrateek Singh Negi Ghansali
10TehriCherapdhar Pradeep Singh Rawat Okhalakhal
11UttarkashiGenwalaMangal Singh Matli
12UttarkashiGarhJagat Singh Rawat Barnigad
13PauriTirpalisainNaveen chandra tiwari Paithani
14PauriMeldharJanardan Prasad Baijro
15PauriJawadVikas Singh Bhist Kandakhal
16PauriGaderiRajendra Negi Damdewal
17RudraprayagKhedakhalMahendra Singh Kathaith Khankra
18ChampawatSimalataBhuwan chandra Pandey Champawat
19ChampawatRausal, DungraboraMahendra Singh Lohaghat
20ChampawatBankuRamesh Singh Adhikari Lohaghat
21PithoragadhSingaliUmesh Bhatt Bhagichaura
22PithoragadhSosaPrema Verma Dharchula
23PithoragadhMadalkiaGokaran Ram Quitee
24PithoragadhPipaltarChandan Singh Karki Muwani
25PithoragadhSirtolaChandra Devi Madkot
26PithoragadhBusail, DevlaraBhagwati Mehra Gangolihat
27PithoragadhChahajBhawani Shanakar Dooni
28PithoragadhChaunalaVinod Kumar Dooni
29UttarkashiSankriBhagat Singh Naitwar
30UttarkashiDoniVinod Singh Naitwar
31UttarkashiJakholPal Chand Naitwar
32TehriSendulBalbeer Singh Myani Jakhdhar
33TehriHaza Shurveer Singh Sahiya
34DehradunBadernaAnil Singh Thano
35PithoragadhDhoongatoliLaxmi Dutt Bhatt Baluwakot
36PithoragadhKanarDaleep Singh Bora Baram
37PithoragadhVinayak Navneet Karki Muwani
38TehriNand GaonDeepak Bhatt New Tehri
39TehriHandiyana TallaLaxman Singh Hulanakhal
40TehriKothar Anita Devi Duggadda
41TehriBharpoorGupta Bisht Okhalakhal
42AlmoraKunwaliNeema Adhikari Bagwalipokhar
43AlmoraManolaShekhar Chandra Bagwalipokhar
44AlmoraBhatoraMahesh Singh Bagwalipokhar
45NainitalOkhaldhoongaRam Singh Ramnagar
46NainitalDonLalit Mohan Ramnagar
47BageshwarGeradMadho Singh Bageshwar
48U S NagarFulsungiVeerbhan Chabra Rudrapur
49NainitalSaurPrakash Narayan Singh Nainital
50NainitalGhughuMohan Singh Adhikari Nainital
51BageshwarNaugaonSanjay Kumar Kandpal Garur
52PithoragadhHeerakhanBhupendra Singh Pipli
53PithoragadhGol / ThalDeepa Pathak Thal
54PithoragadhPayyapauriNarendra Singh Baluwakot
55PithoragadhBaraluBhuwan Chandra Joshi Wadda
56PithoragadhToliDarpan Ram Berinag
57PauriKheraUttam Singh Bahbazar
58UttarkashiDharikedar Singh Chauhan Bernigaad
59Pithoragadh Shiv Om Gurang Marmanle
60PithoragadhToliNaresh Ram Baram
61PauribanvasaAshok Singh Rawat Maithanaghat
62Paurimeruda Deen Dayal Dhontiyal
63BageshwarJakhera Harish chandra wajula
64AlmoraGadgaonHema Bhatt Jainti
65AlmoraGadgaonHema Bhatt Jainti
66AlmoraGadgaonHema Bhatt Jainti
67AlmoraKhoontLalit Chandra Pant Almora
68AlmoraChitaiHem Chandra Joshi Dharanaula
69NainitalBhalon/ AmgiriRajendra Singh Ramnagar
70BageshwarSoopi Rajendra Singh Saung
71U S NagarFaunji MadkotaRohit Sharma Rudrapur
72NainitalAnandpurDeepak Bisht Devalchaur
73NainitalPant KotliShobha Pant Nathuwakhan
74AlmoraChaparMadan Singh Bisht Nathuakhan
75NainitalSunderkhalKailash Singh Bisht Dhanachuli
76BageshwarMalsunaNarendra Kumar Kameridevi
77BageshwarBhandarigaonShekhar Singh Rawat Kameridevi
78BageshwarPinglo Narayan Singh Kandhar
79BageshwarLohagari Harish Singh Kandhar
80BageshwarDhapola Sera Hayat Singh Dhapola Saniudiyar
81BageshwarBheta Sohan Singh Bhandari Saniudiyar
82BageshwarRawatsera Yogesh Singh Rawat Saniudiyar
83PauriMala kotaGabar Singh Laxmanjhoola
84PauriKulbhauriVipin Paboo
85PauriMagthaYashpal Singh Rana Yamkeshwar
86TehriBharpurSanjay Sajwan Bachelikhal
87TehriKurn Vijendra Kumar Bachelikhal
88TehriTakoli Ganesh Prasad Duggadda
89TehriGairiBhag Singh Negi Okhalakhal
90ChamoliVanNarayn singh Bisht Mundoli
91BageshwarMajkhet Jeewan Chandra Pathak Shama
92TehriKhitta Vimla Devi Likhwargaon
93TehriBhaiga Praveen Nautiyal Okhalakhal
94TehriNageshwar SaurSuresh Gaur Ghansali
95ChampawatAnarpaMamta Joshi Devidhura
96PithoragadhMetlaiRajendra Singh Baram
97BageshwarLiLiKishan singh koranga Shama
98BageshwarNankanyalikotDevendra Singh gariya Harshila
99TehriAgundaSushma Devi Thati
100TehriPinswadPartam Singh Thati
101TehriMarwadiRamchandra Singh Thati
102ChampawatChinigothKedar singh samant Tanakpur
103ChampawatGudmee,BamanpuriBhupesh Chandra Banbasa
104ChampawatReghavKundan Singh Bardhakhan
105ChampawatChokiGopal Chandra pandey Champawat
106ChampawatChuradhumkariDeepak Singh Champawat
107ChampawatGhurchumJagdish Chandra pandey Champawat
108ChampawatChhatkotMohan Singh rana Amori
109ChampawatSwalaPrem ballabh Joshi Amori
110ChampawatKhatoli MalliBhawan singh Mehrana Amori
111ChampawatBagedi,DuriHarish Chandra Joshi Amori
112ChampawatVanoliJagdish Chandra Joshi Devidhura
113ChampawatKimadDeepak Chandra Joshi Devidhura
114ChampawatsakdenaMukesh Kumar Champawat
115BageshwarBhanarSunder Singh Dharamgarh
116TehriVaijavadimakan Singh Duggadda
117TehriKhaitta Harish DobhalLikhwargaon
118TehriTholdhar Pramod SinghKamandh
119TehriSaud Uppu Bharat SinghKamandh
120TehriGhairka Harendra singhGhansali
121TehriKweedang Kaidar SinghGhansali
122RudraprayagSayurBachan Singh Vijaynagar
123PithoragadhBora GawnPrahalad Bora Didihaat
124AlmoraAlmoraLalit Chandra Pant Almora
125NainitalpantkotaliMadan bisht Nathuwakhan
126nainitalSundarpurDeevan Singh Daulatpur
127AlmoraChaparShobha Bisht Ranikhet
128PithoragadhBalkotPuja Pithoragadh
129TehriMathlou Kishan singh Bhawan
130TehriMuyalganva Santosh BhattHulanakhal
131TehriMulyakota Vijendra SinghOdadhar
132BageshwarGaderaDhan Pal Singh Bharari
133ChamoliPajyana Ramesh ChandraGairsain
134ChamoliSaluddugra Diwan SinghJoshimath
135ChamoliSiri Rahul SinghBagoli
136ChamoliNAPTOL Nandan SinghHarmani
137ChamoliBonla Km. SapnaGauchar
138ChamoliSidoli Vikram SinghGauchar
139TehriKhatt Pratap singhBhawan
140TehriLaluri Bhanu PrakashKamand
141UttarkashiPurola Rajesh KumarPurola
142UttarkashiSunali MukeshPurola
143UttarkashiTarakot NeemaChinyalisour
144UttarkashiKhalsi Ambika PrasadChinyalisour
145TehriAnthwal gaon Sunil AnthwalHulanakhal
146BageshwarBhitarkot Sunder GiriGarur
147PithoragadhWathayogendra Singh Madkot
148PithoragadhBhadelimunna singh Madkot
157ChampawatLadaboraSunil Singh Amori
158Champawat Hem Chandra Pandey Tanakpur
159PithoragadhSiradNidhi Jajardewal
160Pithoragadhmagheda, naghar, gangseri, pankholi, bisabajed, bhoudi, totanoulaJeevan cahndra Kapadi Jajardewal
161PithoragadhLaijamRamesh Singh Thal
162Pithoragadh harendra singh Gangolihaat
163RudraprayagSyuni Bhagat SinghKhankara
164NainitalGautam Nagar Umesh KumarMaldhan Chour
165UttarkashiGurariRoshan Lal Naitwar