RBI allows BCs to work for more than one bank from single outlet

The September 28, 2010 circular of the RBI on Business Correspondents (BCs) stated that while a BC can be a BC for more than one bank, at the point of customer interface, a re­tail outlet or a sub-agent of a BC shall represent and provide banking services of only one bank. However, the BC or its retail outlet or sub-agent at the point of customer interface would continue to represent the bank, which has appointed the BC.

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