Bartronics India Ltd has been empanelled by Bank of Maharashtra as a Corporate Business Correspondent (CBC). This strategic appointment is set to enhance the bank’s outreach, enabling wider financial inclusion by facilitating banking services in underserved and rural areas through Bartronics’ extensive network and digital capabilities.
Bartronics India Ltd, a leading provider of banking automation and digital solutions, announced its empanelment as a Corporate Business Correspondent (CBC) by Bank of Maharashtra. This collaboration aims to leverage Bartronics’ technology and agent network to further the bank’s mission of reaching unbanked and underbanked populations across Maharashtra and neighboring states.
As a CBC, Bartronics will provide doorstep banking services such as account opening, deposits, withdrawals, loan applications, and other banking transactions. This initiative supports the Reserve Bank of India’s financial inclusion agenda by extending banking access beyond traditional branches into remote and rural localities.
Bartronics’ expertise in digital innovations complements the Bank of Maharashtra’s efforts to modernize and digitize banking outreach, ensuring secure and efficient delivery of a wide range of financial products and services through business correspondents. This alliance is expected to strengthen the bank’s customer base and drive inclusive growth in the region.
Key Highlights:
Bartronics India Ltd empanelled as Corporate Business Correspondent by Bank of Maharashtra
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Bartronics to facilitate banking services in underserved and rural areas
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Doorstep banking services include account operations, deposits, withdrawals, and loans
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Supports RBI’s financial inclusion initiatives
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Enhances digital and secure banking outreach
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Strengthens Bank of Maharashtra’s regional presence and customer acquisition
Sources: Company announcement, Bank of Maharashtra filings, Industry reports