Benefits of Financial Inclusion

| June 13, 2019

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Benefits of Financial Inclusion (Business Correspondent Model)  Business correspondents (BCs) are individuals or groups (like NGOs, gram panchayats, societies etc.) who act as the representatives of banks in order to provide banking services to the unbanked and under banked population. The model was introduced in India in January 2006 by the RBI where banks utilize middlemen for serving the rural population with basic financial facilities at the convenience of their doorsteps.This concept, when implemented thoroughly can offer plenty of benefits.

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GroFin

GroFin is a pioneering private development finance institution specialised in financing and supporting small and growing businesses (SGBs) across Africa and the Middle East by combining medium term loan capital and value-added business support. By generating employment, strengthening value chains and building markets, our investments bring about inclusive economic growth and improved living conditions in the low and middle income countries where we operate.

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