What is/are the facility/facilities the beneficiaries can get from the services of Business Correspondent (Bank Saathi) in branchless areas?
- It enables the beneficiaries to draw their subsidies and social security benefits in their villages.
- It enables the beneficiaries in rural areas to make deposits and withdrawals.
Select the correct answer using the code given below.
Detailed Explanation:
✅ Statement 1 – Correct: Business Correspondents (Bank Saathi) enable beneficiaries to withdraw government subsidies and social security benefits (DBT) directly in their villages through Electronic Benefit Transfer (EBT), eliminating the need to travel to distant bank branches.
✅ Statement 2 – Correct: BCs facilitate basic banking services in branchless areas including deposits, withdrawals, remittances, and balance enquiry, promoting financial inclusion in rural and remote locations where setting up full-fledged branches is not viable.
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