Easy Bank­ing

Southasia - - BRIEFS -

The Cen­tral Bank of Bhutan has re­cently in­tro­duced ‘Agent Bank­ing,’ al­low­ing fi­nan­cial in­sti­tu­tions to pro­vide bank­ing ser­vices to peo­ple out­side the bank premises. Un­der the ini­tia­tive, a bank agent can ac­cept cash de­posits and with­drawals, process loan ap­pli­ca­tions and is en­ti­tled to col­lect util­ity bills on be­half of the bank. Post of­fices, pri­vate courier com­pa­nies, agents of tele­com op­er­a­tors, in­sur­ance com­pa­nies, phar­ma­cies and shop­ping out­lets are el­i­gi­ble to be­come a bank agent. Aimed to serve un­banked pop­u­la­tions across the coun­try, the ac­cess to fi­nan­cial ser­vices and loans through agent bank­ing will help un­em­ployed youth to start their own busi­nesses.

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