Investigating the Impact of ICT-Enabled Business Correspondent Model on Financial Inclusion

Mohd Adnan, Jaidev Singh Negi and Rashika Kumari

The Review of Finance and Banking, 2023, vol. 15, issue 2, 89-100

Abstract: In India, the business correspondent model was introduced to improve banking outreach in remote and rural areas. Although the BC Model struggled in the initial years, but in the last decade it has made continuous strides and currently provides banking services in more than 95% of villages in India. This research paper is targeted at investigating the impact of the BC Model on financial inclusion. To fulfill this objective, firstly, on the basis of theoretical support, we identified the factors that affect the usage of banking services through the business correspondent agents and then the impact of the identified factors on the banking usage behavior have been empirically tested using PLS-SEM. The findings reveal that the affordability of banking services at BC point, proximity of BC agents and time saved in accessing banking services through BC agent exerts a significant positive impact on banking usage behavior.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:rfb:journl:v:15:y:2023:i:2:p:89-100

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