There is a good news for the business correspondents . RBI has decided to raise the income of these business correspondents . These correspondents works mainly in the rural and remote areas of the country on behalf of nationalized and commercial banks but considering the amount of work they do, they were not paid well.
These correspondents are a very important link between the banks and the rural population. These correspondents visits the villages and makes them aware of the benefits of the bank accounts . Each correspondent have a machine through which people can make transactions. Apart from this he answers all the queries of the people.
It has been found that business correspondents are even more effective then the actual bank employees. Since these correspondents belongs to the same village or locality the people trusts them and they can even convince the villagers more effectively to open a frill account.
Currently the correspondents are paid between 1,000 to 1,500 but according to the RBI circular now their salary can go p to 5,000.
RBI has set the target to provide basic banking facilities to the unbanked villages with population above 2,000 before march 2012 and the Business Correspondents are a very important link between the banks and the villagers. The correspondents are doing very well presently and working hard to cnvert the dream in to reality.
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