Question

    For encouraging Financial Inclusion and extending banking services to small villages RBI has promoted BC-BF Model. What does BC-BF stands for?

    A 1) Business Correspondent - Business Facilitator Correct Answer Incorrect Answer
    B 2) Banking Correspondent-Banking Facilitator Correct Answer Incorrect Answer
    C 3) Banking Counsellor - Banking Facilitator Correct Answer Incorrect Answer
    D 4) Bank Centre-Bank Face Correct Answer Incorrect Answer
    E 5) None of the above Correct Answer Incorrect Answer

    Solution

    For financial inclusion and increasing the outreach of the banking sector, based on the recommendations of Khan Committee, in 2006 RBI allowed banks to employ two categories of intermediaries - Business Correspondents (BCs) and Business Facilitators (BFs).

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