Business Standard

Sunday, January 19, 2025 | 10:50 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

FinMin considers asking banks to implement geotagging for all BCs

This is also expected to ensure that services are delivered effectively and efficiently to the intended beneficiaries

Finance Ministry, Ministry of Finance
Premium

(Photo: Shutterstock)

Harsh Kumar Delhi

Listen to This Article

The Union Ministry of Finance (FinMin) is planning to direct banks to implement geotagging for all Business Correspondents (BCs) in order to enhance accountability and facilitate better monitoring of their activities. This is also expected to ensure that services are delivered effectively and efficiently to the intended beneficiaries, according to a senior government official, who requested anonymity. 
A BC is a bank representative who provides banking services to customers in areas without bank branches. 
“The government is planning geotagging of BCs. It will help banks to provide valuable data on customer behaviour for informed decision-making, aid in fraud prevention by

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in