Business Correspondent Agent definition
Business Correspondent Agent or “BCA” who has a retail outlet and has completed the registration and enrolment process by TranServ for providing Business Correspondent Services and Udio Services via registered operating address TranServ and the BCA are hereinafter collectively referred to as the “Parties” and individually as the “Party”. The BCA has represented to TranServ that it has retail outlet and also has requisite powers, skill, knowledge, experience, expertise, technology, infrastructure and capability to facilitate financial inclusion, electronic transactions and/or other sale of other financial products and services on an exclusive basis for the Sponsor Bank. It is clarified that registration shall not alone make a BCA eligible BCA enrolment, the enrolment of the BCA shall be at the sole discretion of the TranServ and its Sponsor Bank, which shall not be challenged by the Business Correspondent Agents. In the event of refusal of any application, the same shall be informed to the BCA.
Business Correspondent Agent means an entity engaged by a commercial bank branch in Uttar Pradesh, to provide last mile delivery of financial and banking services to customers in unbanked and underbanked areas.
Examples of Business Correspondent Agent in a sentence
If applicable, for the purposes of rendering the banking services, the Franchisee shall adhere to the relevant terms and conditions of the Business Correspondent Agent that is given in Annexure 2 to this Agreement.
For the purposes of rendering the banking services, the Franchisee shall adhere to the relevant terms and conditions of the Business Correspondent Agent that is given in Annexure 1 to this Agreement.
All the CSC outlets can now be appointed as Business Correspondent Agent / Customer Service Points of these banks and carry out banking transactions on behalf of the bank.