With the objective of ensuring greater Financial Inclusion and increasing outreach of the banking sector, Banks have been permitted to use the services of NGOs/SHGs, Micro Finance Institutions (MFIs) and other Civil Society Organizations (CSOs) as intermediaries in providing Financial and Banking services using Business Correspondent Model. Business Correspondent is an extended arm of the Bank Branch who is providing Financial and Banking services to the customers in unbanked and underbanked areas.
Our Bank empanel Corporate Business Correspondents who in turn deploy Individual Business Correspondents at the allotted BC locations. At present, Bank has empanelled 5 Corporate Business Correspondents and they have deployed 1300+ Business Correspondents PAN India for serving unpenetrated and under penetrated geography of the country.
| Sr. No. | Netbanking |
|---|---|
| 1 | Account Opening |
| 2 | Cash Deposit (On us) |
| 3 | Cash Withdrawal (On us & Off us) |
| 4 | Fund Transfer (Own Bank) |
| 5 | Balance Enquiry (On us & Off us) |
| 6 | Mini Statement |
| 7 | Enrolment of Social Security Schemes
|
| 8 | Collection of EMIs |
| 9 | Term Deposit/ Recurring Deposit Opening |
| 10 | Renewal of Term Deposit/ Recurring Deposit |
| 11 | Other HDFC Bank Products & Services |
| 12 | Grievances & Complaint Handling |
To apply for Banking Business Correspondent, visit HDFC Bank's official website, move to 'Agri' and choose 'Business Correspondent' to proceed with the next steps.
HDFC Bank’s Correspondence Banking Services are designed for companies engaged in international trade. This includes foreign organisations doing business with Indian companies or enterprises with overseas interests. They can route inward and outward remittances through their HDFC Bank Account for quick processing.
Business Correspondents help people with banking tasks like opening accounts and making deposits directly. Business Facilitators, on the other hand, only refer people to banks and don’t handle money themselves. They help connect customers with banks but don’t provide services on behalf of the bank.
The Business Correspondent Model lets banks work with local groups like NGOs and small organisations to provide banking services in areas without banks. These local partners, known as Business Correspondents, help people with tasks like opening accounts and handling money, making banking more accessible.