The rise of new-age BCNMs: Transformation of agent networks in India

• by Sharad Bangari, Anil Gupta and Pritam Patro
• Oct 12, 2020
• 1 min
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The business correspondent landscape in India has seen the rise of new-age BCNMs. This paper highlights the strategies of new-age BCNMs that can be used in other markets around the world.

The initial growth of the business correspondent model in India was driven by BC agents, who were deployed as an extension of the branch network. However, they face several hurdles that affected their efficiency and eventually paved the way for “new-age BCNMs,” who rely on technology to deliver better services. This paper explores how these two models complement each other to achieve the objectives of financial inclusion in India.