SUMMARY

TRAINING, CERTIFICATION & BC REGISTRY

Development and implementation of technology based, standardized, robust and easy to use training (banking, insurance, pension and securities etc.) platform; certification system; and BC registry for Corporate Business Correspondents (CBCs) and Business Correspondent Agents (BCAs) across the various BC models.

The training system will be multi-lingual do-it-yourself (DIY) online/mobile app having provision for easy integration, using APIs, with other technology platforms. Testing and certification will be through the online/mobile app.

The BC Registry will have data of applicants, trained, tested, certified (various levels), as also blacklisted BCs and would be accessed and used by CBCs, BCAs, government, regulators and other authorised agencies.

TECHNOLOGY

Development and implementation of a technology platform (webserver, website and mobile app) for use of Corporate Business Correspondents (CBCs) and Business Correspondent Agents (BCAs) across the various BC models as well as other authorised users. It will also integrate with other components being developed i.e. standards, COC and GRM. The technology platform will facilitate greater standardization and compliance in the BC network. The technology platform will include online training, testing, certification as well as BC registry. The system will also provide and enable relevant information with respect to regulatory compliance, industry trends, membership, CBCs, BCAs, besides enable self-regulation.

STANDARDS

Development and implementation of a standardized, integrated and inter-operable technology solution and API based framework that will facilitate BCs including White Label BCs. The programme will facilitate the BCs to emerge as high quality interoperable network with aim to provide banking, insurance, pension, securities services as well as payment and settlements. Standards and APIs from business-critical institutions including NPCI, UIDAI etc. would be provided for implementation by CBCs.

CODE OF CONDUCT

Development and implementation of a standardised and harmonised Code of Conduct (COC) for the BC sector encompassing the full range of financial inclusion services i.e. banking, insurance, pension and securities etc. Implementation of COC would promote harmonization, institutionalization, adoption of global best practices of responsible finance, and adherence of the same by the BC sector. The goal of COC would be to promote responsible finance by propagating financial literacy, fair practices, and customer awareness.  

GRIEVANCE REDRESSAL MECHANISM

Development and implementation of a robust and effective grievance redressal framework and system for BCAs. It would be implemented across Corporate Business Correspondents (CBCs) and Business Correspondent Agents (BCAs). The GRM would report and also be accessible by policy makers (government), regulators and adjacent institutions. The goal of GRM would be to promote responsible finance through reporting, tracking and resolving customer protection issues.