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SBI and IDBI CSP: In collaboration with Alankit We have started appointing New BC for CSP network

Updated: Aug 10, 2022

Business Correspondents are retail agents who represent banks and are responsible for delivering banking services at locations other than a bank branch/ATM. BCs


support banks in providing its limited range of banking services at an affordable cost. Thus, they are pivotal in promoting financial inclusion. According to the RBI’s mandate, the products offered by BCs include Small Savings Accounts, Fixed Deposit and Recurring Deposit with low minimum deposits, Remittance to any BC customer,

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Micro Credit and General Insurance. The BC model helps banks in bringing door-step delivery of services especially ‘cash in - cash out’ transactions in areas that are nearer to the rural population, thus resolving the issue of last-mile delivery.


As a business correspondent for the State Bank of India and Bank of Baroda, mTm facilitates banking services to the citizens at any given location and time, as and when required by these banks. Being a service provider for both, Alankit essentially helps with enrolling the customers and enabling their transactions at the Customer Service Points (CSPs) aside from sourcing various deposit and loan products of the bank as a business facilitator. This way it reaches some of the remote areas as the bank’s official agent, thus, promoting not just the bank’s business growth but financial inclusion in the country as well.

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