Bc Model
CENTRE FOR MICRO FINANCE at IFMR
Business Correspondent Model:
A Preliminary Exploration
Report compiled by Binit Rath, Minakshi Ramji and Alexandra Kobishyn
Published for the Microfinance India Summit, October 2009
Thanks are due to Dan Kopf, a former Research Associate at the Centre for Micro Finance (CMF), and Upamanyu Dash (Summer Intern 2009, IIFM) who was closely involved in the Orissa case study. The entire research team expresses its gratitude to the staff at FINO, A Little World (ALW), BASIX and Adhikar who enthusiastically participated in the study. Special thanks to Justin Oliver, Executive Director at CMF, who offered encouragement and help for the study. N.B: The fieldwork for this study was conducted by Binit Rath, a student at IFMR who was part of CMF’s Total Immersion Programme in Finance and Development (TIP/FD). His work was under the guidance of Minakshi Ramji, a Senior Researcher within the Sector Wide and Policy (SWAP) team. Alexandra Kobishyn, Amulya Champatiray, members of the Knowledge Management team, and Lakshmi Krishnan, Programme Head, contributed to the preparation of this report.
Table of Contents
Executive Summary.....................................................................3 BC Model in India - A Primer..........................................................6 Zero Mass Foundation - A Little World ...........................................9 Indian Grameen Services – Krishna Bhima Samruddhi ................16 FINO Fintech Foundation-FINO .....................................................28 Adhikar-FINO...............................................................................34 Synthesis and Looking Ahead........................................................38 Works Cited and References..........................................................43
Executive Summary
In order to promote financial inclusion amongst the unbanked, the Reserve Bank of India (RBI) developed a set of guidelines to formalize branchless
Business Correspondent Model:
A Preliminary Exploration
Report compiled by Binit Rath, Minakshi Ramji and Alexandra Kobishyn
Published for the Microfinance India Summit, October 2009
Thanks are due to Dan Kopf, a former Research Associate at the Centre for Micro Finance (CMF), and Upamanyu Dash (Summer Intern 2009, IIFM) who was closely involved in the Orissa case study. The entire research team expresses its gratitude to the staff at FINO, A Little World (ALW), BASIX and Adhikar who enthusiastically participated in the study. Special thanks to Justin Oliver, Executive Director at CMF, who offered encouragement and help for the study. N.B: The fieldwork for this study was conducted by Binit Rath, a student at IFMR who was part of CMF’s Total Immersion Programme in Finance and Development (TIP/FD). His work was under the guidance of Minakshi Ramji, a Senior Researcher within the Sector Wide and Policy (SWAP) team. Alexandra Kobishyn, Amulya Champatiray, members of the Knowledge Management team, and Lakshmi Krishnan, Programme Head, contributed to the preparation of this report.
Table of Contents
Executive Summary.....................................................................3 BC Model in India - A Primer..........................................................6 Zero Mass Foundation - A Little World ...........................................9 Indian Grameen Services – Krishna Bhima Samruddhi ................16 FINO Fintech Foundation-FINO .....................................................28 Adhikar-FINO...............................................................................34 Synthesis and Looking Ahead........................................................38 Works Cited and References..........................................................43
Executive Summary
In order to promote financial inclusion amongst the unbanked, the Reserve Bank of India (RBI) developed a set of guidelines to formalize branchless
References: Number of Villages 1,865 Literacy Rate Rate 76.13% (Orissa HDI Factsheet 2004)cy Location