The rapid development of Information Technology (IT) has led the customers to adopt online banking as it reduces the time and the cost associated with banking activities. Branchless banking (BB) extends services to all kind of people, both by reducing the cost of delivery (in terms of rent and maintenance of building of banks, and handling low value transactions directly) and by reducing the cost of accessing the services (traveling to banks and waiting in the queue which consumes a lot of time). The concept is thus an economic substitute to conventional branch-based banking. BB enables commercial banks to offer different services outside the traditional bank premises by different channels like business correspondents, retail agents, mobiles, Internet facilities, etc. BB thus aims to provide the financial services in the unbanked areas.

The word BB means "conduct of banking activities as outlined in the guidelines by Authorized Financial Institutions for customers having a branchless banking account."

BB account means "a current deposit account or a savings deposit account or any other account maintained by a customer in a financial institution in which credits and debits may be affected by virtue of Electronic Fund Transfers or Banker's Cheque."

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