What is/are the facility/facilities the beneficiaries can get from the services of Business Correspondent (Bank Saathi) in branchless areas? (1) It enables the beneficiaries to draw their subsidies and social security benefits in their villages. (2) It enables the beneficiaries in rural areas to make deposits and withdrawals. Select the correct answer using the code given below.

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CollectorBabu · Accepted Answer

Correct Answer: Both 1 and 2. The bank selects business correspondents which are Bank Saathi. They work as intermediaries among rural people and the bank itself. With this, there will be no requirement for village level presence of the bank and in such case, problems related to customer handling will get avoided. Along with the regular banking facility, these provisions allow government subsidies and benefits of social security to get directly credited to the beneficiaries' accounts so that they can withdraw money from Bank Saathi in particular villages. So we see that both statements 1 and 2 are correct.

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