BC/CSP Banking - An Introduction with Web Online CA
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Web Online CA
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Rs. 598/-
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07-Mar-2026
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Bank BC - Banking Services in India
By Web Online CA
5 min read
Updated On 23-February-2026
What is Business Correspondent (BC) Banking?
Business correspondents are authorized bank representatives to provide banking services in remote or rural areas. BCs act as intermediaries between the bank and the customers. They get commission for every new account opening, every transaction made via them and every loan-application processed etc. They also go to any place with their laptops and biometric machine and help villagers to open bank accounts and banking transactions like: Deposit money, withdrawal money, loans etc. The villager gives his thumb impression or electronic signature to gets the money.
Services Available at BC Banking Counter:
Sr. No.
Services
1
Account Opening
2
Cash Deposit (Own Bank)
3
Cash Deposit (Other Bank- AEPS/ RuPay Card)
4
Cash Withdrawal
5
Fund Transfer (Own Bank)
6
Fund Transfer (Other Bank- AEPS/ RuPay Card)
7
Balance Enquiry (Own Bank)
8
Balance Enquiry (Other Bank- AEPS/ RuPay Card)
9
Mini Statement
10
Enrolment of Pradhan Mantri Suraksha Bima Yojna (PMSBY)
11
Enrolment of Pradhan Mantri Jeevan Jyoti Bima Yojna (PMJJBY)
12
Enrolment of Atal Pension Yojna (APY)
13
IMPS
14
Recovery/ Collection up to Bank approved limits
15
NEFT
16
Term Deposit/ Recurring Deposit Opening
17
Request for new Cheque Book
18
Stop Payment of Cheque
19
Cheque Status Enquiry
20
Renewal of Term Deposit/ Recurring Deposit
21
Block Debit Card
22
Launch Complaints
23
Track Complaints
24
Request for SMS alert/ e-mail statement (if mobile no./ e-mail is already registered)
25
Pension Life Certificate authentication through Jeevan Pramanam (Aadhaar enabled)
26
Apply for RuPay Debit cards
What is Customer Service Point (CSP) Banking?
CSP means Customer Service Point. CSPs are also known as Bank Mitra. These centers are Mini Banks. Where almost all banking facilities are provided. Meaning, the facilities available in the bank are also easily available through the Customer Service Center/Customer Service Point (CSP). These agents, often located in rural or remote areas, act as intermediaries between the bank and the customers, offering services like deposits, withdrawals, account opening, and bill payments.
BC stands for Business Correspondent - an agent appointed by a bank to deliver basic banking services in underserved areas of India.
A BC helps with account opening, deposits, withdrawals, fund transfers, balance enquiries, receiving government subsidies and more - without customers visiting a bank branch.
Yes, individuals such as retired bank employees, SHG members, shop owners or CSC operators can be appointed as BCs by banks after meeting eligibility and training requirements.
Yes - BC agents use micro ATMs and biometric machines to carry out cash deposits and withdrawals on behalf of the bank.
Yes, Business Correspondents operate under RBI guidelines, ensuring financial inclusion and secure banking for customers.
