AGRI AND RURAL
Agri Banking: The bank gives loans to other agricultural activities or allied activities like Poultry, Dairy, and Fisheries etc.
Rural banking: It is simply a banking service that serves smaller, rural communities. They tend to be deeply embedded in the communities they serve.
According to RBI regulations, banks are expected to extend their banking services to the unbanked/rural population. However, this noble aim throws up many questions.
To help banks tide over these challenges, RBI, as part of its financial inclusion policy, has allowed banks to deploy Business Correspondents and Business Facilitators to expand their footprint and reach to the unbanked/rural sections of the country.
Centillion offers Business Correspondent services in the areas of assets and liability sourcing, service points set-up and operations (fixed and mobile), product and process training services, thereby helping banks to reach its customers in unbanked areas in villages of rural India. The services offered by Centillion can be classified under the following categories:
- Asset products sourcing – Agri loans, TW/Tractor Loans, Cattle Loans, Consumable Durables, Credit Card, etc.
- Liability products sourcing – RD, FD, Enrolment etc.
- Business Correspondent Service Points set-up and operations – Premise set-up, manpower deployment, and cash and transactions management.
- Training delivery in key intervention areas like assets products and services.