Engagement of 'for-profit' Companies as Banking Business Correspondents, on its website.

-




Why ‘for profit’ companies, as Banking Business Correspondents?
Reserve Bank of India, today, has placed aRe
Reserve Bank of India, today placed a Discussion Paper on Engagement of 'for-profit' Companies as Banking Business Correspondents, on its website.

Comments/Feedback have been invited by Reserve Bank of India, latest by 20th August 2010.
The Discussion Paper can be viewed at http://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=22919#

Why was this Discussion Paper necessary?
01)   To bring the vast majority of the unbanked population into the Banking fold.

02)   To encourage ‘for profit’ companies to enroll as Business Correspondents.

03)   To minimize frauds, as BC’s are primarily encouraged for ‘Savings and Remittance Services’.

04)   To harness the Information Technology to develop low-cost efficient BC Models.

05)    To arrive at Service Charges to be charged by various players in the BC Model.

06)   To structure a transparent complaint management system.

Comments

Post a Comment

Popular posts from this blog

CERTIFICATE EXAMINATION IN INTERNATIONAL TRADE FINANCE

-
Image
          This certification is essential for all members of a Bank Trade Finance Department.   The syllabus covers key aspects required by team members to effectively discharge their duties. Trade Finance is one of the traditional forms of bank finance in India. In view of reforms and liberalisation, this has gained a new significance.   Many of the practices in trade finance have evolved over a period of time and some are guided by Ministry of Commerce and Reserve Bank of India, besides WTO and International Chamber of Commerce through UCPDC 600. With the increase in the volume of trade both domestically and internationally, there is a need for trade finance professionals from banks as well as corporates. The Objectives of this IIBF Examination is as under:   (i) To provide candidates with competencies required to function as trade finance practitioners. (ii) To enable candidates to possess the ...
Read more

IIBF-Certificate Examination in Foreign Exchange Facilities for Individuals

-
          The primary objective this IIBF course is to make the branch officials familiar with the FEMA provisions that impact their day to day functioning at the branch level.     This exam is being introduced pursuant to the recommendation of a committee of RBI.           Normally foreign exchange transactions pertaining to individuals are handled at branches only and are not referred to specialised forex cells.           The course covers ‘Foreign Exchange Facilities for individuals under FEMA1999’ RBIs FAQs’ on Forex Facilities for Residents (Individuals) (updated up to November 21, 2014) For full details refer to Reserve Bank of India website: Introduction : The legal framework for administration of foreign exchange transactions in India is provided by the Foreign Exchange Management Act, 1999. Un...
Read more

IIBF introduces Self-Paced E-learning courses (SPeL) for its two certificates

-
Image
          Indian Institute of Banking Finance (IIBF) has taken a quantum leap in disseminating knowledge to its members and non-members.           IIBF in April 2019, introduced the Self-Paced E-learning courses (SPeL) concept for banking enthusiasts to be familiar with banking concepts.           In the first stage, IIBF has launched   two certificate courses i.e 1. Digital Banking and 2. Ethics in Banking.           The objective of this self-paced e-learning mode are as follows: • Participants can make the best use of his or her time, in order to meet his or her learning objectives. • Participants can access the course   anywhere/anytime with an internet connection. • Participants need not travel to give their examinations. It saves time and money of the participants. ...
Read more