Business Correspondent means
a) An agent who provides banking services
b) An agent of business house
c) A type of money lender
d) None of above
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The Correct Answer for the given question is option a) An agent who provides banking services
Business Correspondent means an agent who provides banking services. Unlike shareholders and directors, a business corporation has its own legal existence. They are sometimes called limited company. As a separate legal entity from its shareholders and directors, the corporation’s debts are generally not liable to them personally beyond the amount contributed. Even though the shareholders own a corporation, the directors are responsible for managing its day-to-day operations.