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Appendix 3 Application for the Business Correspondent Supervisor, The Regional Manager Central Bank of India ___ Regrowth reference to your advertisement dated ___, I submit my application and details
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How to fill out engagement of business correspondent

01
Obtain the engagement agreement template from the business correspondent.
02
Fill out all the necessary details of both parties involved in the agreement.
03
Clearly define the scope of work and responsibilities of the business correspondent.
04
Include the compensation terms and payment schedule.
05
Review the agreement for accuracy and completeness.
06
Sign and date the agreement along with the business correspondent.

Who needs engagement of business correspondent?

01
Banks and financial institutions looking to increase their reach and customer base.
02
Businesses looking to expand their services or offerings through a partnership with a business correspondent.
03
Individuals or organizations seeking to offer financial services in areas where traditional banking infrastructure is limited.

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Engagement of business correspondent refers to the agreement or contract between a bank and a third party agent who acts on behalf of the bank to provide various financial services in areas where the bank does not have a physical branch presence.
Banks and financial institutions who engage the services of business correspondents are required to file engagement of business correspondent.
Engagement of business correspondent can be filled out by providing details of the agreement between the bank and the business correspondent, including the scope of services, terms and conditions, and compensation arrangement.
The purpose of engagement of business correspondent is to expand the reach of banking services to underserved areas and population by leveraging the network of business correspondents.
The information that must be reported on engagement of business correspondent includes the details of the business correspondent, the services offered, geographical coverage, compensation structure, and terms of agreement.
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