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Business Corresponding Centres
Business Corresponding centre are the intermediaries on behalf of Kadamba Bank to provide a basic financial service with-in the legal juridistiction. It would help Kadamba Bank to reach out the underserved populations and expand our business reach and contributes the financial inclusion and socio-economic development of the region.
BCs will be engaged by Kadamba Bank and they act as a link between bank and customers within the service areas and it would help to increase the banking penetration in remote areas to empower marginalized communities. BCs also enhance the economic development by providing access of formal financial services.
- BCs can be individuals, Non-Governmental Organizations (NGOs), self-help groups (SHGs), microfinance institutions (MFIs), or any other entities approved by the Kadamba Bank.
- Technology and Infrastructure: BCs typically leverage technology to offer banking services. They may use handheld devices, mobile phones.
- Services Offered: BCs provide basic service banking activities to the customers, such as introducing the bank and its activities to the new customers, assisting to account opening, digital fund transfers, balance inquiries, receiving loan applications through our digital gateways and collection of small-value loans and deposits.
- Training and Compliance: BCs undergo training provided by Kadamba Bank to ensure compliance with regulatory requirements and proper handling of business. They are responsible for maintaining confidentiality, integrity, and security of customer information.
- Financial Inclusion: BCs play a vital role in promoting financial inclusion by reaching out to unbanked or underbanked individuals and providing them access to formal financial services. This helps in reducing the dependence on informal and unregulated sources of credit.
