Article : Banking Correspondent Service: An Effective Elucidation For Banking Sector’s Substantial Augmentation

Title

Banking Correspondent Service: An Effective Elucidation For Banking Sector’s Substantial Augmentation

Author

Urvi Amin, Bansi Patel

Indian economic system attempts to reach to “AAM ADAMI” with effective financial services. But to reach to the bottom of the pyramid, and make available financial system to them is prime question for the economic developer. In financial inclusion banking sector try to reach to the lower segment of economy for better of and improve their standard of living. In this base new ray of hope is “banking correspondent service which is known as branch less banking”. With the new develop branch of banking it is possible to reach to the lower segment and provide them benefit of banking and try to pool money from them which will use for benefit of them. It is new concept, which is developed in India still many people not aware about it. Still with sincere effort of the government machinery slow but steady development becomes possible. The paper will provide regulators and policy makers in India a way forward to expedite the development of suitable Branchless banking for microfinance in India.

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