Banking correspondent (BC) model was introduced by Reserve Bank of India in 2006 as an initiative towards financial inclusion, intended to reach the unreached to meet their banking needs. Since SAMBANDH Finserve Private Limited (SFPL) too is working at the Grass root level and firmly believes in the necessity of financial inclusion and inclusive growth, it chose to adopt the BC model to extend banking facilities to the deprived sections of the society.
SFPL has partnered as a Business Correspondent with Yes Bank, IDBI Bank, Reliance Capital Ltd in view to provide with better access of finance comprising Loan Products. It has significant operations in Odisha, Jharkhand and Chhattisgarh with 20 BC Branches and adding. Recently, we have partnered with State Bank of India to provide its gamut of products comprising Loans and Savings.