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. The federation works with its stakeholders towards setting up a quality network, standardized systems and processes that address both supply and demand side challenges holistically.
BCFI (with support from World Bank/IFC, DFID, SIDBI) is currently implementing five significant programmes for the BC sector:
- Training, certification and BC registry
- Code of conduct (COC)
- Grievance redressal mechanism (GRM)
- Technology platforms (web and app)