Are Banks All Set to Dominate Domestic Remittance Market in India?

• by Akhand Tiwari and Puneet Chopra
• Oct 31, 2018
• 1 min
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Driven by the government’s financial inclusion agenda, as the BC model expands in multiple forms, banks and BCNMs are experiencing new consumer demand and expectations.

Driven by the government’s financial inclusion agenda, as the BC model expands in multiple forms, banks and BCNMs are experiencing new consumer demand and expectations. Remittance is one of the flagship products, enabling the financially excluded majority to experience and benefit from formal financial services. Banks and BCNMs have the opportunity to grow and expand remittance as a market-led and profitable offering. Banks will benefit if they can strategically expand BC services across migrant corridors, and improve agent management practices to offer differentiated, superior and consistent customer service.