Do local banking agents drive rural savings?
Banking correspondents reduce cost of access to financial services and increase savings in rural India, a new study suggests
The results from a NABARD survey on financial inclusion published last month showed that access to financial services in India remains weak despite new government schemes such as “Pradhan Mantri Jan-Dhan Yojana" and policies such as the business correspondents (BCs) policy of the Reserve Bank of India (RBI), meant to widen the reach of banks beyond their brick-and-mortar branches.
Login to enjoy exclusive benefits!
- Unlocked premium articles
- Personalized news
- Market Watchlist
- Insightful Newsletters & more