Business Correspondent Federation of India (BCFI)
Business Correspondent Federation of India (BCFI) is the national federation of Corporate Business Correspondents (CBCs) and Customer Service Points (CSPs) in India.
It is a not-for-profit organization that aims to promote responsible finance by systematizing and harmonizing the delivery of financial services to the poor through the critical last mile i.e. the CSPs.
The federation interalia also does policy advocacy, promotes financial literacy and customer awareness. BCFI undertakes studies, workshops/conclaves and supports collaborative development activities related to financial inclusion in general and the BC sector in particular.
We Connect the last mile.
Mahesh JainChairman BCFI and Co-Founder & Chairman (Integra Micro Systems Private Limited)
Mahesh Jain is an industry veteran with 40 years of experience in the IT sector. He is the Co-founder and Chairman of Integra Micro Systems. He is an alumnus of IIT Kanpur (B.Tech.’75) and of IISc Bangalore (ME ’77) and has been associated with Education (FAER, NAAC), Carbon Emission Reduction (Fair Climate Network), Green Energy, Drivers Foundation for many years and has co-founded a few organizations in this social enterprise space.
He is also the current chairman at BCFI.
Sunil KulkarniCEO BCFI
Anand Kumar BajajCo Chair- BCFI and MD & CEO (Nearby Technologies Private Limited)
Sasidhar ThumuluriChairman (Emeritus) -BCFI & Managing Director (Sub-K Impact Solutions Ltd.
Vijay Pratap Singh AdityaCo-Founder & CEO (Ekgaon Technologies Private Limited)
Rahul KasinadhuniDirector & CFO ( Saggraha Management Services Private Limited )
Chirutha DalalCo-Founder & COO ( Mindsarray Network Private Limited )
Amit JainExec VP & Head- Fino Payments Bank
Praveen DhabhaiCOO & Director-Payworld Digital Services Ltd
We are extremely happy that BCFI has taken great initiatives to create a larger community of
business correspondence entities. It has brought together different members in a common
platform where they can know each other, help and support. Members can easily associate
with each other and share their views.
” It has been our pleasure to be a part of the Business Correspondent Federation of India (BCFI). BCFI has emerged as a unified voice for the Financial Inclusion and BC sector in the country. BCFI has been very prompt and proactive in industry representation to the relevant stakeholders as well as policy advocacy along with the Regulators, Banks and the Government. The Federation has worked extensively on Financial Inclusion Awareness, knowledge sharing with its stakeholders as well as contributed immensely towards setting up quality networks and standardized processes in the Financial Inclusion and BC sector.”
BCFI can be counted among the most responsive to members’ needs. Covid pandemic has created so much stress for all of us. BCFI was swift to reach out to the concerned authorities to address the pain points and play a constructive role in national interest.
Financial Inclusions remains an unfinished challenge for our nation, which could not get essential financial services to majority of its population in five decades. Enabling financial services to rural India has been a vision and mission of Ekgaon Group for last two decades, we identified biggest bottleneck as policy and enabler as technology and had been working on these for last 20 years. BCFI of which Ekgaon is a founding member, has been instrumental in becoming the voice of the sector with various sector stakeholders and the government of India. BCFI has voiced sectors concerns and understanding to get favourable direction and help create policy space for deepening financial inclusion. Ekgaon Group has now entered with a 100% digital financial product for farmers in rural market, a first in India, bringing a paradigm shift for the sector to benefit farmers.
BCFI is a great platform to collaborate with industry leaders in the space of financial inclusion. It encourages thought leadership to help implement policy objectives of the government and work in tandem with partner banks. The platform through various committees and working groups helps identify opportunities where one can add value both from policy augmentation perspective and mutual learning based execution. At PayNearby, we look forward to collaborating with partners and members of BCFI.
It is with the efforts of BCFI that the BC agents are recognised as frontline workers and therefore prioritised in vaccination. In case of any casualty, their family is also provided with financial support. It is great to see that BCFI has been instrumental in securing rights of BC agents during the pandemic. Another fantastic initiative of BCFI has been the creation of a self-regulatory body to ensure that right practices are followed among its members. We are proud to be associated with BCFI and look forward to continued cooperation.
Traning and Certification
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