1.

What Is The Guidelines For Engaging Business Correspondents (bcs)?

Answer»

Banks MAY formulate a policy for engaging Business CORRESPONDENTS (BCs) with the approval of their Board of Directors. Due diligence may be carried out on the individuals/entities to be ENGAGED as BCs prior to their engagement.

The due diligence exercise may, inter alia, cover aspects such as 

  1. Reputation/market standing 
  2. Financial soundness 
  3. Management and corporate GOVERNANCE 
  4. CASH handling ability 
  5. Ability to implement technology solutions in rendering financial services. 

Banks may formulate a policy for engaging Business Correspondents (BCs) with the approval of their Board of Directors. Due diligence may be carried out on the individuals/entities to be engaged as BCs prior to their engagement.

The due diligence exercise may, inter alia, cover aspects such as 


Discussion

No Comment Found

Related InterviewSolutions