Vision, Mission, Objectives

Vision

To promote responsible finance by systematizing, harmonizing and continually innovating the delivery of financial services to the poor through Business Correspondents.

Mission

To be a

UNIFIED VOICE: Represent the full spectrum of BCs
FORCEFUL VOICE: Formulate positions / recommendations on industry indices, and formally be part of discussions and consultative process on policy, regulation and economic/business drivers
STRONG VOICE: Work on sustainable BC viability and growth by recommending economic and pricing matters based on empirical data / trends
RESPECTED VOICE: To be the single point of interface between BCs and policy makers (government), regulators, adjacent institutions, and other stakeholders
REGULATED VOICE: Act as Self-Regulating Organization (SRO)
TRUSTED VOICE: Promote innovation for delivering high quality service and trust, through BC training, certification, registry, branding as well as database of blacklisted BCs and employees

Objectives

To improve the quality and capacities of Agent Business Correspondents (ABCs) through high quality, comprehensive, innovative and cost efficient training, certification and registry.
To enable seamless transactions and data consolidation across BCs, banks, other financial service providers (insurance, pension, mutual fund etc.), and merchants through a common comprehensive and innovative technological solution.
To promote state of practice on responsible finance and customer awareness and protection in the BC channel.
To enhance the credibility and sectoral convening role as the sectoral federation in general and the individual BC Agent in particular, and to be recognized as a SRO.
To create and impart knowledge database regarding the on-going best practices experiences related to business models, standards, commercial practices, mechanisms, code of conduct and pricing in India and across the world to ensure viable, scalable and self-sustaining business.