Hence, banking company is the service provider in the business facilitator model or the business correspondent model operated by a banking company as per RBI guidelines. Based on the multiple Ans. The banking company is liable to pay GST on the entire value of service charge or fee charged to customers whether or not received via business facilitator or the business correspondent. RBI Guidelines for Cyber Security Framework RBI Guidelines for Cyber Security Framework 10 The very innovations that drive business growth and value also create first order cyber risks. Cash can be delivered to the recipient in cash through an agent appointed as business correspondent. Banks should report details of opening of a new place of business including Mobile branch/ Mobile ATMs, closure, merger, shifting or conversion of any existing place of business immediately and in any case not later than two weeks after opening / closure / merger / shifting / conversion etc. 3. s The representatives of Panchayat Samitis are also invited to attend the meetings at half yearly intervals so as to share their knowledge and experience on rural development in the credit planning exercise. Background. 11. CS Vinita Nair, Debolina Banerjee. What are the transactions which are eligible to be settled through the ACU? Business Correspondent Roles and Responsibilities – Disbursing and Collection. Financial Inclusion – Use of Business Correspondents As you are aware, with a view to promote financial inclusion, a roadmap to provide banking services in every village with population above 2000 by March 31, 2012, was drawn up. the business correspondent model operated by a banking company as per RBI guidelines. (DIR Series) Circular No. Banking Awareness on Guidelines issued by RBI on Banking Outlets. Scaling up of the Business Correspondent (BC) Model – Issues in Cash Management Please refer to Para 26 (Part B) of Governor's bi-monthly policy statement dated April 1, 2014 on the above subject. 2. Important Banking Awareness Questions on Banking Outlet for SBI PO, IBPS PO, NIACL, LIC, RBI, RRB PO Clerk, IPPB and other competitive exams. Ans. 2.2 Hence, banking company is the service provider in the business facilitator model or the business correspondent model operated by a banking company as per RBI guidelines. The concept of “Business Correspondents” can be dated back to 2006 when a significant step in this direction was taken by way of issue of RBI guidelines in January 2006 (2006 guidelines)[1] for engagement of Business Correspondents by banks for providing banking and financial services. 16/2015-16 dated January 1, 2016 on export of goods and services, as amended from time to time.

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