New Delhi, Feb. 17 -- The 10th meeting of the Monitoring Committee on Business Correspondents (BCs) was held here on Tuesday under the chairmanship of M Nagaraju, Secretary, Department of Financial Services.
A Business Correspondent (BC) is a bank-appointed agent which acts as an extended arm of a bank branch to provide essential financial services like deposits, withdrawals and loan applications in rural areas.
The meeting was attended by representatives from the Reserve Bank of India, National Payments Corporation of India, Indian Banks' Association, National Bank for Agriculture and Rural Development, along with public and private sector banks and Business Correspondent associations.
The committee reviewed progress on action points fr...