In banking terms, BF stands for Business Facilitator, also known as Bank Mitra. They play a specific role in expanding banking services.
Role of a Business Facilitator (BF)
Business Facilitators, or Bank Mitras, are crucial in extending banking services to a wider audience. Here's a breakdown of their responsibilities:
- Business Mobilization: They actively work to generate business for their linked bank branches. This includes attracting:
- Savings Accounts
- Current Accounts
- Recurring Deposit Accounts
- Fixed Deposit Accounts
- Loan Referrals: BFs can also refer potential loan applicants to the bank.
Important Note
It's important to remember that Business Facilitators are NOT authorized to handle cash transactions. Their primary role is business development and referral generation.
| Feature | Description |
|---|---|
| Full Term | Business Facilitator |
| Alternate Name | Bank Mitra |
| Main Function | Mobilizing business for bank branches (e.g., attracting deposits, loan referrals) |
| Limitations | Cannot carry out cash transactions |
