Agent networks: Ideas and lessons from India

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Agent banking provides an alternative to ensure access to financial services in remote areas. It was introduced by RBI in India back in 2006 with an idea to provide low-cost access to basic financial services in rural areas to ensure better financial inclusion in the country. Having more than 7 million Business Correspondents (BCs) in the country has helped people realize the cash benefits provided to them during COVID 19 crisis. Indian government transferred USD 7 billion supporting more than 200 million households in the country.

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