Meaning
Agent Banking Network provides financial services in underserved areas, extending traditional banking reach.Definition
It refers to a system where authorized agents (shops, individuals) conduct banking transactions on behalf of a financial institution.How It Works
Customers can deposit, withdraw cash, transfer funds, or open accounts at these agent points, often using digital platforms like UPI.Benefits
It enhances financial inclusion, offers convenient access to essential banking services, and reduces operational costs for banks.Author
