What is/are the facility/facilities the beneficiaries can get from the services of Business Correspondent (Bank Saathi) in branchless areas?
1. It enables the beneficiaries to draw their subsidies and social security benefits in their villages.
2. It enables the beneficiaries in the rural areas to make deposits and withdrawals.
Select the correct answer using the code given below:
Answer:
(c)
Core Books/NCERT
Statement 1 is correct: Business Correspondents (Bank Saathis) act as agents of banks in remote/branchless areas. They help villagers receive direct benefit transfers (DBTs) like subsidies, pensions, and social security benefits at their doorstep without having to travel to a bank branch. Statement 2 is correct: They also provide basic banking services like deposit and withdrawal facilities through micro-ATMs, biometric authentication, and handheld devices. This ensures financial inclusion in rural areas.