How to become a Business Correspondent Agent?

How to become a Business Correspondent Agent?

The government of India has launched several initiatives to promote financial inclusion in the country, and one of them is the Business Correspondent (BC) model. Under this model, banks can appoint individuals or entities as business correspondent agents to provide banking services in areas where the bank does not have a physical presence. In this article, we will discuss how to become a business correspondent agent.

Step 1

Choose a Bank The first step in becoming a business correspondent agent is to choose a bank that you would like to represent. All banks in India are allowed to appoint business correspondent agents, so you have several options to choose from. It is advisable to choose a bank that has a strong presence in your area and offers services that are in demand.

Step 2

Meet the Eligibility Criteria Each bank has its own eligibility criteria for appointing business correspondent agents. Generally, the following criteria need to be met:

  • The applicant should be a resident of the area where the bank wants to appoint a business correspondent agent.
  • The applicant should have a minimum educational qualification, usually 10th or 12th standard.
  • The applicant should not have any criminal record.
  • The applicant should have a bank account in their name.
  • The applicant should have basic knowledge of banking and financial products.

Step 3

Apply for the Business Correspondent Agent Position Once you have chosen a bank and met the eligibility criteria, you can apply for the business correspondent agent position. You can do this by visiting the bank’s nearest branch or by applying online through the bank’s website. You will need to provide your personal details, educational qualifications, and other relevant information.

Step 4

Attend Training Once your application is accepted, you will be required to attend a training program conducted by the bank. The training program will provide you with information about the bank’s products and services, as well as the role and responsibilities of a business correspondent agent.

Step 5

Set up Infrastructure After completing the training program, you will need to set up infrastructure to provide banking services. This includes setting up a small office or kiosk in the area where you will be operating. You will also need to purchase a biometric scanner to authenticate customers’ identity.

Step 6

Start Providing Banking Services Once your infrastructure is set up, you can start providing banking services to customers in your area. This includes opening new bank accounts, accepting deposits, processing withdrawals, and providing other banking services. As a business correspondent agent, you will be paid a commission for each transaction you process.


Becoming a business correspondent agent is a great way to contribute to financial inclusion in your area while earning a livelihood. By following the above steps, you can become a business correspondent agent for a bank of your choice and start providing banking services to customers in your area.

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