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During the last 15years,Business Correspondents have played a major role in Financial Inclusion space to cover the uncovered ,reach the unreached and secure the unsecured people on their own under the aegis of various Banks. They have driven FI initiatives of Govt of India to cover the marginalized and vulnerable section of people under social net.
Specially after launch of PMJDY and social security schemes in 2014,the channel has risen to the occasion and grown leaps and bounds and taken its roots deep to stand as a robust alternate model in the financial map of India. BC model has the potential to be very successful nevertheless much still to be done to validate its inclusion in the financial sector.
The model has passed the initial stages of adoption and future efforts would need to concentrate on instituting changes at the policy level if the channel was to be made viable and sustainable.
As BCs face various operational issues(in cash management, cash handling,reconciliation of failed transactions, frauds and misappropriation), viability issue( inoperative CSPs,managing zero balance and inoperative accounts,income of CSPs, initial investment to establish CSPs) and regulatory concerns, in the context of various Banks having different systems and procedures, compliance norms, payment structure, it is felt necessary to have a Resource Centre for BCs to advise, suggest, innovate, Strategy, hand hold BCs/ CSPs on various regulatory guidelines, analysis of business data, expert advice, work flow, suggestions and updates.
Become a member
Contribute to the company
1) To work as a support centre for the BCs so as to easily touch
the FI customers through easy reach,customers education and social
security nets
2) To arrange training program for various
officials of BCs and other agencies involved with FI activities
and formulate training manual/ inputs,research papers as part of
capacity building of BCs/ CSPs and others
3) To be an
innovation centre to further the cause of FI customers and BCs in
the context of various savings and social security
schemes,digitalization and micro credit
4) To collaborate
with stakeholders to achieve our goal ,of enabling the left out or
poorly or inadequately served by the financial sector through
better financial reach,products and technology
1) To be a dedicated resource centre committed for strengthening
BC channel through various suggestions, strategies ,training and
research
2) To provide guidance on various FI initiatives and
suggest for deep penetration of the channel with viability and
sustainability on clear focus
3) To undertake any study or
suggest any model to drive various FI and digital initiatives of
Govt of India and State Govts .
Our core values are the principles that guide us in helping the
unprivileged and vulnerable section of people to achieve financial
literacy and prosperity. We strive to make Business Correspondents
as financial services leaders and trusted channel that is
differentiated by personalised service and innovative ideas to
pursue and achieve their goals
A)Worthy of trust and care:We
care the people and keep our promises
B)Respect: We are
inclusive and collaborative. We will contribute to grow further in
the FI field
C)Winning with passion:We are passionate to
suceed through participation,collaboration and innovation
CSP in Mon District
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Village ladies waiting to draw Govt payments ,maintaining social distancing in Rajastan
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BCRC
Take a look at what people say about US
Hailstorm and snow fall damaged a CSP...services uninterrupted in Nagaland
Village ladies waiting to draw Govt payments ,maintaining social distancing in Rajastan
