BOB Recruitment 2023: Bank of Baroda (BOB) is seeking applications from qualified candidates for the position of Business Correspondent Supervisor. In order to apply for BOB Recruitment 2023, the applicant must be retired officers of any PSUs bank up to the Rank of Chief Manager OR candidates must be graduate with Computer Knowledge. There are 02 vacant seat for Ambala and Pani0at District. According to the official notification of BOB Recruitment 2023, the appointment is made on contractual basis for a period of 12 months subject to review after every 06 months.
The selected candidate will get a monthly salary of up to Rs. 15000. As given in the official notification of BOB Recruitment 2023, all the applications received will be shortlisted on the basis of qualification and experience and shortlisted candidates will be called for an interview. Desirous applicants can fill out the application form in the prescribed format given in the official notification and send it by post to The Regional Manager, Bank of Baroda, Karnal Region, Regional Office – Opp Deventure Hotel, Namaste Chowk, Karnal, Haryana-132001. The notification was released on 26.10.23 and the last date for submitting the application form is 15.11.23.
Table of Content
- Post Name and Vacancies for BOB Recruitment 2023:
- Age Limit for BOB Recruitment 2023:
- Salary for BOB Recruitment 2023:
- Qualification for BOB Recruitment 2023:
- Selection Procedure for BOB Recruitment 2023:
- Tenure for BOB Recruitment 2023:
- How to Apply for BOB Recruitment 2023:
Post Name and Vacancies for BOB Recruitment 2023:
BOB is looking for qualified candidates for the post of Business Correspondent Supervisor. For the mentioned post, there are 02 openings for Ambala and Pani0at District.
Age Limit for BOB Recruitment 2023:
For Retired Candidates-
- The maximum age limit is 62 years.
For Young Candidates-
- The minimum age limit is 21 years and the maximum is 45 years.
Salary for BOB Recruitment 2023:
Qualification for BOB Recruitment 2023:
For Retired Candidates-
- The retired officers (including voluntarily retired) of any PSU bank up to the rank of Chief Manager may be appointed for the purpose.
- The retired clerks and equivalent of Bank of Baroda having passed JAIIB with good track record.
- All retired bank employees applicants should have rural banking experience at least 3 years.
For Young Candidates-
- Candidates should be graduate with Computer knowledge (MS Office, email, Internet etc.), however qualification like M.Sc. (IT) BE (IT) MCA/MBA will be given preference.
Selection Procedure for BOB Recruitment 2023:
The applications received will be shortlisted on the basis of qualification and experience. The shortlisted candidates will be called for an interview. The details regarding the interview will be intimated later to the shortlisted candidates.
Tenure for BOB Recruitment 2023:
How to Apply for BOB Recruitment 2023:
In order to apply for BOB Recruitment 2023, candidates can fill out the application form in the prescribed format given in the official notification and send it by post to The Regional Manager, Bank of Baroda, Karnal Region, Regional Office – Opp Deventure Hotel, Namaste Chowk, Karnal, Haryana-132001.
The DEADLINE for submitting the application form is 15.11.23.
The BC Supervisors will be responsible for fixation of targets and monitoring the progress vis-à-vis target. BC Supervisor will be evaluated based on the performance and achievement of various targets of BC agents.
Business Correspondent (BC) – An Introduction
Business correspondents are bank representatives. They help villagers to open bank accounts. Business Correspondents get commission from bank for every new account opening, every transaction made via them, every loan-application processed etc. The Business Correspondent carries a mobile device and helps villagers in banking transactions. (Deposit money, take money out of savings account, loans etc.). The villager gives his thumb impression or electronic signature, and gets the money.
Eligibility to become a Business Correspondent
As per the RBI guidelines, the following entities are eligible for appointment of Business Correspondents (BCS) for banks:
- NGOs/MFls set up under Societies/Trust Acts
- Societies registered under Mutually Aided Cooperative Societies Acts or the Cooperative Societies Acts of States
- Section 25 companies that are stand alone entities or in which NBFCs, banks, telecom companies and other corporate entities or their holding companies did not have equity holdings in excess of 10 per cent
- Post offices
- Retired bank employees,
- Retired government employees.
- Individual kirana / medical / fair price shop owners Individual Public Call Office (PCO) operators
- Agents of Small Savings Schemes of Government of India/Insurance Companies Individuals who own petrol pumps
- Retired teachers
- Authorised functionaries of well run Self Help Groups (SHGs) linked to banks Non deposit taking NBFCs (non-banking finance companies) in the nature of loan companies whose micro finance portfolio is not less than 80 per cent of their loan outstanding in the financially excluded districts as identified by the Committee on Financial Inclusion.
- RBI has now permitted banks to engage any individual, including those operating Common Service Centres (CSCs) as BC, subject to banks’ comfort level and their carrying out suitable due diligence as also instituting additional safeguards as may be considered appropriate to minimise the agency risks.
Appointment of BCs
- Must be a permanent resident of the area in which they propose to operate. They should be well established, enjoy good reputation and have the confidence of the local people.
- The ability of BCs to invest in POS machines and other equipments. In case of individuals Selected as BCS, the criterion is as under: A minimum education qualification of Xth pass. Field Investigation /RCU for verification of residence and dealings, etc. to be conducted.
- Credibility check – A/c with any other bank. Should open account with Bank (base branch)
- Suitable amount of Security deposit /Bank guarantee based on business Volumes.
Scope of activities to be undertaken by BC
The scope of activities undertaken by BC is as under:
- Creating awareness about savings and other products and education and advice on managing money and debt counseling.
- Identification of potential customers
- Collection and preliminary processing of various forms for deposits including verification of primary information / data
- Filling of applications / account opening forms including nomination clause and Submission to the Bank.
- KYC will also be completed by the BC.
- Opening of no frill deposit accounts and other products as permitted from time to time by leveraging technology.
- Collection and payment of small value deposits and withdrawals; Min : nil; Max: Rs. 2000/- per transaction.
- Receipt and delivery of small value remittances / other payment instruments, as per Fl Plan of IDBI Bank.
- In respect of all such transactions, the BC/his agent will be authorized to accept / deliver cash either at his place of work or at any convenient location subject to the ceilings per customer (Rs 2000/- in each case).
- Furnishing of mini account statements and other account information, for a period of 3 months.
- Any other service on behalf of the Bank, duly authorized by the appropriate authority.
- The activities undertaken by the Business Correspondents would be within the normal course of the Bank’s banking business, but conducted through and by the entities at places other than the Bank’s premises.
- In respect of all such transactions, the BC/his/her agent will be authorized to accept / deliver cash either at his place of work or at any convenient location subject to the ceilings per day / per customer as laid down. The Business Correspondents will be linked to a nearby branch (base Branch).
- Cross-selling of other financial products like insurance / mutual fund products / pension products / any other third party product, as and when they are assigned to do SO.
- In case duly appointed sub-agents of BCs, BCs to take care of reputational risks involved.