Inclusive Banking Through Business Correspondents (Basic Course) book by Indian Institute of Banking & Finance

This book discusses the essential role of Business Correspondents (BCs) and Business Facilitators (BFs) in transforming India's rural economy. The book outlines a comprehensive approach towards financial inclusion, targeting unbanked communities and unpenetrated geographies. It emphasizes the importance of the BC/BF model in providing vital banking services to those previously excluded and in areas devoid of bank branches.

This book has been developed under the guidance of the Indian Banks' Association (IBA) and the Reserve Bank of India (RBI). It adopts a modular approach, ensuring a coherent and logical flow of content across its four modules, which are as follows:

General Banking
Financial Inclusion and Role of Business Correspondents
Technical Skills
Soft Skills and Behavioural Aspects
It is an invaluable resource for practising bankers and institutions seeking a deeper understanding of financial inclusion, the BC/BF model, and the certification aspirants.

The Present Publication is the 2024 Edition, revised and updated by Mr K.S. Padamnabhan | Retd. CGM – NABARD. Taxmann exclusively publishes this book for the Indian Institute of Banking and Finance with the following noteworthy features:

[Economic Significance] Emphasizes the role of the BC/BF model in supporting India's rural economy by connecting unbanked populations with banking services
[Objective of BC/BF Model] Explains the purpose of the BC/BF model in reaching excluded individuals and offering banking services in areas without bank branches
[Operational Risks and Skill Requirements] Discusses the operational and reputational risks involved for banks in engaging BCs and the necessary skill sets required for effective performance
The detailed contents of this book are as follows:

Module A – General Banking
Structure of Indian Banking and types of banks
Deposit schemes and other banking services
Account opening procedures and KYC mechanisms
Grievance redressal and the Integrated Ombudsman Scheme
Module B – Financial Inclusion and Role of Business Correspondents
Concept and need for financial inclusion
BC and BF model as a vehicle for financial inclusion
Risk and fraud management in the BC/BF context
Government schemes like PMJDY, PMJJBY, PMSBY, and APY
Module C – Technical Skills
Basic technical skills for handling various banking devices and connectivity issues
Overview of digital banking products
Module D – Soft Skills and Behavioural Aspects
Importance of communication and financial counselling
Strategies for dealing with different types of customers