RBI organises workshop for Business Correspondents

By
Daily Excelsior
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Excelsior Correspondent
JAMMU, Feb 26: With a view to sensitise Business Correspondents about their role and functions and also to obtain first hand feedback of their field level experiences, Reserve Bank of India, Jammu organised the first ever workshop for Business Correspondents (BCs) functioning in J&K State which was inaugurated by  D. Sethy, Regional Director for Jammu & Kashmir, RBI Jammu.
The workshop was attended by DGM, SBI, DGM, PNB, Chairmen of both the RRBs, representative of SLBC,  Vice President of J&K Bank besides 50 BCs engaged with these banks. While welcoming the participants,  Ramesh Chand, General Manager, RBI briefly touched upon the background for introduction of BCs in India for greater Financial Inclusion and to increase the outreach of Banking sector. He also explained RBI guidelines on engagement of BCs, scope of activities to be undertaken, consumer protection measures, redressal of grievances etc.
In his inaugural address,   Sethy highlighted the importance of the BC model and their role in implementation of  financial inclusion. He explained that the Financial Inclusion started right with the nationalisation of banks in 1969 but it got impetus with the guidelines issued by RBI for engagement of BCs in January 2006. He was appreciative with the presence of BCs from far flung areas of Doda, Kishtwar, Poonch and Rajouri where their services are of utmost importance.
He instructed the bank representatives to increase the number of BCs which were just equivalent to the number of branches in the state whereas in other parts of country their ratio was much higher. Such an increase will facilitate both the public and the BCs as they will be able to cover most of the area in view of the topography of the region. He further added that nearly 50% accounts are still inactive and they can well visualise the opportunities available in this regard. He also asked the BCs to putforth their doubts and also difficulties so that the issues could be resolved on the spot.

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