Blog Posts By: Chandni Ohri


Editor’s Note: When Grameen Foundation president Steve Hollingworth held his first live chat, we simply ran out of time to address all the questions we received. In this blog series, Last Mile DigitalDev, our country directors and program experts in digital financial services, mobile agriculture and mobile health are responding to those questions. Read blog 1 here.


In recent announcements, the government of India has unveiled ambitious financial inclusion plans of which the Business Correspondent (BC) model is a key piece. Over the next several weeks, Grameen Foundation India (a wholly-owned subsidiary of Grameen Foundation) will post a series of blogs that discuss this model and how to make it work for promoting financial inclusion in India.

With the recent circular by the Reserve Bank of India (RBI), allowing non-banking financial companies (NBFCs) that do not accept deposits to be authorized as business correspondents (BC), there is no doubt that NBFC-MFIs1 stand to gain a lot. It would be prudent for such microfinance institutions (MFIs) to consider this opportunity seriously and explore a partnership with a reputed bank.