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Who are banking correspondent?

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Recognizing this problem, the “Reserve Bank of India (RBI)” introduced a regulation in 2006 allowing banks to provide service at people's doorstep through the use of third party services. This model is referred to as “Business Correspondents/Banking correspondents” in short BC's. read more

A correspondent bank is a bank that provides services on behalf of another, equal or unequal, financial institution. It can facilitate wire transfers, conduct business transactions, accept deposits, and gather documents on behalf of another financial institution. read more

Recognizing this problem, the “Reserve Bank of India (RBI)” introduced a regulation in 2006 allowing banks to provide service at people’s doorstep through the use of third party services. This model is referred to as “Business Correspondents/Banking correspondents” in short BC’s. read more

How Correspondent Banking Works. Correspondent banking works through an agreement between a foreign and domestic bank where a correspondent account, usually referred to as a vostro or nostro account, is established at one bank for the other. Correspondent banking typically involves the two banks establishing reciprocal accounts with each other. read more

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What Will it Take to Improve Global Disbursements ...
Source: hyperwallet.com

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