Who is Business Correspondent Agent / Bank Mitra and what is their role in Pradhan Mantri Jan Dhan Yojana ?






John John
Answered on March 23,2019

Business Correspondent Agents (Bank Mitra) are retail agents engaged by banks for providing banking services at locations where opening of a brick and mortar branch / ATM is not viable. Scope of activities of Business Correspondents / Bank Mitra are as under:

  • Creating Awareness about savings and other products and education and advice on managing money and debt counseling.
  • Identification of potential customers.
  • Collection and preliminary processing of various forms for deposits including verification of primary information/data.
  • Filling of applications / account opening forms
  • Collection and payment of small value deposits and withdrawals.
  • Receipt and delivery of small value remittances / other payment instructions.
  • Furnishing of mini account statements and other account information.
  • Any other service on behalf of the Bank, duly authorized by the appropriate authority etc