‘For-Profit’ companies as Business Correspondents?
The Reserve Bank of India has opened a discussion in its website to see if there is a case for allowing banks to engage ‘for-profit’ companies as well as NBFCs as their Business Correspondents.
Correspondent Banking in Brazil
Olympia A. De Castro from IFMR Capital gave us an insight on the correspondent banking model in Brazil that led to some interesting comparison debates with the Indian model.
NGOs as Business Correspondents
IFMR Finance Foundation (IFF), which recently came out with a plan for commercial banks to deepen financial access using the Business Correspondent (BC) model , is now working on an action plan to roll out the model extensively across India.
Deepening Financial Access in India – A Blue Print for Commercial Banks
While endeavouring to deepen financial access in India, the enormity of the problem, that is, the vast number of financially excluded people to be reached, has been emphasised time and again.
