India: Impact of COVID-19 on Business Correspondents

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India: Impact of COVID-19 on Business Correspondents

by Aakash Mehrotra, Abhishek Anand, Gayatri Pandey, Manoj Nayak, Mohak Srivastava, Nitish Narain, Surbhi Sood and Shobhit Mishra
Jun 11, 2020
1 min

This report highlights the impact of COVID-19 on business correspondent (BC) agents in India and the issues they faced while delivering financial services in the wake of the pandemic. It also offers policy recommendations to help BCs offer uninterrupted services.

The report discusses the nature and extent of the impact of COVID-19 on the revenue, transactions, and operations of business correspondents (BCs) in India. It explores the coping strategies adopted by BCs to effectively deliver financial services, particularly the “Emergency Direct Benefit Transfers (DBT)” announced by the government while mitigating the risk of transmission. The report also provides policy recommendations to support the delivery of financial services through BC agents in India.