New Delhi, April 13, 2026: The Reserve Bank of India (RBI) has unveiled a refreshed Business Correspondent (BC) framework designed to strengthen last-mile delivery of financial services, improve oversight, and create more sustainable compensation structures for BC agents. This move is widely seen as a significant step forward in deepening financial inclusion, especially across rural and underserved regions of the country.
As a leading technology-enabled provider of financial inclusion and e-governance solutions and largest BC player, BLS E-Services, welcomes the announcement and expressed strong optimism about its long-term impact on the ecosystem.
Commenting on the development, Mr. Lokanath Panda, COO, BLS E-Services, said:
“The RBI’s progressive overhaul of the Business Correspondent framework is both timely and transformative. By bringing greater clarity to compensation, strengthening monitoring mechanisms, and introducing more structured operational models, the new guidelines will go a long way in enhancing service quality, accountability, and trust at the grassroots level.”
The revised framework introduces several important changes, including tighter regulatory oversight, more standardized and transparent compensation models for BC agents, and a refined structure for BC operations to improve efficiency and governance. Together, these measures are expected to create a more resilient and scalable ecosystem for delivering banking services beyond traditional branches.
The Reserve Bank has also proposed that BC Banking Outlets be compensated a combination of fixed and variable remuneration, while BC Banking Touchpoints will receive variable remuneration. The fixed component is to be benchmarked and determined through a mechanism under the Indian Banks’ Association. The draft also indicates that variable remuneration will include parameters such as customer satisfaction, in addition to transaction volumes.
The draft provides for a progressive reduction in prefunding requirements BCs and sub agents, linked to performance, service quality, and business relationship. The Reserve Bank has asked comments / feedback on the draft Amendment Directions to be submitted by the regulated entities and members of public / other stakeholders on or before May 05, 2026.
For BLS E-Services, which operates at the intersection of technology and financial access, the new framework reinforces the importance of strong, well-supported BC networks. The company believes these changes will not only elevate service standards but also encourage greater adoption of digital banking solutions, while ensuring more stable and rewarding opportunities for BC agents on the ground.
As India continues its journey toward inclusive growth, BLS E-Services remains committed to strengthening its platform, empowering its partners, and aligning closely with RBI’s evolving vision for a more accessible, transparent, and digitally enabled financial ecosystem.
About BLS E-Services:
BLS E-Services, a subsidiary of BLS International Services Limited, stands as a leading technology-enabled digital service provider in India, offering a diverse range of services that encompass Business Correspondent (BC / Rural Banking Outlets) services, Assisted E-services, and E-Governance Services.
There are approximately 16 lakh Business Correspondents (BCs) working at grassroot level in India. The transactions processed through BC outlets generate significant social impact, ranging from Direct Benefit Transfers and promoting savings habits to micro-insurance, micro-pensions, revenue services, crop insurance, agricultural loans, and agri-enterprise loans. Notably, 56%-57% of Pradhan Mantri Jan Dhan Yojana (PMJDY) account holders are women. PMJDY has 57.93 Crore beneficiaries banked so far ₹305,244.71 Crore Balance in beneficiary accounts.
BLS E-Services plays a pivotal role in facilitating access to a wide spectrum of essential public utility services, social welfare programs, healthcare, finance, education, agriculture, and banking services. This array of services caters to governments (G2C) and businesses (B2B), while also catering to the diverse needs of citizens (B2C) across urban, semi-urban, rural, and remote areas. Operating within a unique integrated business model, BLS E-Services bridges the digital gap in areas with low internet penetration by offering solutions through phygital strategy, i.e., physical, and digital.
