IT has been reported that the State Bank of India (SBI) has signed up with the Reliance Money Infrastructure (RMIL), an Anil Arnbani group company, a 'business correspondent' deal to source a range of banking services. The deal authorises the RMIL to identify borrowers; collect, process, and submit loan applications; promote credit groups; and take up post-sanction monitoring, follow-up and recovery. As the service provider, the RMIL will also collect small-value deposits; sell micro-insurance, mutual fund and pension products; and receive and deliver small-value remittances.