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
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
On 12th April,21,4th training program for National BC AISECT and others was conducted through Webinar from 2 30pm to 6 45 pm.Total 94 officials joined the program.The program was inaugurated by leading journalist and editor of" Entrepreneur Times",based at NewDelhi, Mr H S Patra,who in his inaugural speech lauded the efforts of BCs ,in transforming rural india as far as reaching to the community and providing various financial services and enrolling them under Social Security Schemes are concerned.
The BC model has matured enough and it is high time for the stakeholders to plan and implement next level of Financial Inclusion in the country ,he mentioned.In his speech ,he dwelt upon the role played by BCRC and desired that BCRC should come forward and take the lead to identify various areas for deepening of FI activities and welfare of BCs /CSPs.Mr Praveen Kumar ,Chairman of A P Grameena Vikas Bank gave his valedictory address and thanked the BCs for their untiring efforts and work carried out during the Covid Pandemic times.
As a low cost model,they have supported the Banks and contributed immensely in account opening , mobilizing deposit and covering the FI customers under social security schemes,he mentioned.Mr Anurag Gupta,CEO ,AISECT,Bhopal offered vote of thanks.
On 1st April,21 ,under Capacity Building of BC Officials,a training program was conducted for BC Officials ( mostly State heads and district nodal officers) of national BC,Vedavaag and some other BCs. Total 87officials joined in the program.Program was inaugurated by Dr S Subbaih,Vice Principal ,CAB,Pune( GM,RBI) and valedictory address given Mr Jayant Keskar,professor at NIBM,Pune.
Mr Subbaih ,gave an insightful speech ,covering the role played by BCs in transforming rural India under FI space,mainly in driving financial literacy,digital transactions,pushing thrift habits and creating a model to meet the financial needs of vulnerable segment of society.
Mr Keskar ,in his valedictory address mentioned that BCRC is the first institution in the country formed to impart training to FI/ BC officials and he admired the efforts and work of BCRC.He emphasized that 4 Ps,that is People,Process,Product and Penetration will go a long way to drive BCs and reach the targeted segment of the population and enhance sustainability of BC model.
On 17th March,21 , 4 hrs training program was organized for BC officials ( mostly their HO officials and State Heads) of exclusively NICT and some other BC however,one or 2 senior officials of other BCs..The program was inaugurated by Mr S Dwivedi,CEO and Director of National Centre of Financial Education,Mumbai( an autonomous Institution promoted by all financial regulators) and valedictory address given by Dr Manikraj, Associate Dean,NIBM,Pune
Total 64 officials participated.The program evoked good response.While lauding the efforts of BCRC Mr Dwivedi,CEO of NCFE ,Mumbai , hoped that BCRC will be positioned as number one training Institute for FI and BC official in addition to taking the issues and problem faced by BCs with concerned authorities .Mr Dwivedi ,who gave an eloquent speech on various FI initiatives and BC activities,and also policy matter,expected BCRC to play as harbinger of BCs welfare.Dr Manik Raj also thanked BCRC to provide training free of cost.
Drishtee Development & Communication Limited
NICT Technologies Pvt. Ltd.
P2P MicroFinance & Allied Services
Zero Mass Pvt. Ltd.
Take a look at what people say about US
Hailstorm and snow fall damaged a CSP...services uninterrupted in Nagaland
Customer Service Point situated at hillock in Himachal Pradesh
Village ladies waiting to draw Govt payments ,maintaining social distancing in Rajastan