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.