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Overview

Business Correspondents are retail agents engaged by banks for providing banking services at locations other than a bank branch/ATM. BCs enable a bank to provide its limited range of banking services at low cost. Hence, they are instrumental in promoting financial inclusion. As per the RBI guidelines the products provided by BCs are: Small Savings Accounts, Fixed Deposit and Recurring Deposit with low minimum deposits, Remittance to any BC customer, Micro Credit and General Insurance. The BC model allows banks to provide door-step delivery of services especially ‘cash in - cash out’ transactions at a location much closer to the rural population, thus addressing the last-mile problem.

Alankit as Business Correspondent

As a business correspondent for State Bank of India and Bank of Baroda, the company facilitates banking services to the citizens at any given location and time, as and when required by these banks. Being a service provider for both, Alankit essentially helps with enrolling the customers and enabling their transactions at the Customer Service Points (CSPs) aside from sourcing various deposit and loan products of the bank as a business facilitator. This way it reaches some of the remote areas as the bank’s official agent, thus, promoting not just the bank’s business growth but financial inclusion in the country as well.

Why Choose Alankit?

  • Current BC channel partner for State Bank of India and Bank of Baroda
  • 6120 Business Locations
  • 50 active branches
  • Customer selling points
  • 200 CSPs arrangement currently under activation process
  • Preferred BC of Private Sector Banks like Kotak & Yes Bank
  • Robust monitoring mechanism for BC business activities
  • Dedicated support in every key business region for CSPs