Category: Business Correspondent Model

5 key concerns for banks’ to address while adopting BC Model

Business correspondent (BC) model was introduced with a view to transform the lives of rural population. The basic idea behind this model to be brought to India was to empower the unbanked and under-banked population by providing them with financial services at their doorsteps. With the evolution of this model, a lot is expected to…

Financial Inclusion in India – The Rise of Business Correspondent Model

In January 2006, the Reserve Bank of India issued a set of rules enabling banks to utilize two classes of middlemen for the banks and financial institutions to serve the unbanked or under-banked population with basic financial facilities – Business Correspondents (BCs) and Business Facilitators (BFs). Under financial inclusion schemes, the BCs represent bank as…

Business Correspondent Model: Why Co-operative Banks are ideally suited to adopt Business Correspondent Model?

Business Correspondent Model: An Ideal Approach to Serve the Unbanked Sectors