Liberalisation of Business Correspondents Model: In January 2006, the Reserve Bank permitted banks to engage business facilitator and business correspondent (BC) as intermediaries for providing financial and banking services. The BC model allows banks to provide door step delivery of services especially “cash in – cash out” transactions at a location much closer to the rural population, thus addressing the last mile problem.
Organizations such as the Workforce Alliance and public-private partnerships supported by the governor’s office are helping people in Virginia improve their own lives and economic circumstances. As our nation continues to recover from the recession, these and similar workforce development programs in communities across the country are demonstrating that they are vital to the well-being of Main Street economies all over America.