The End of the Silly Common Banking Correspondent Model?

since may this year, i have been tracking a plan from the department of financial services to split india into 20 clusters, and to appoint a common banking correspondent company for all public sector banks operating in each cluster. it is a textbook case of policy adventurism. the department, a part of the finance ministry, […]

In which the Banking Correspondent Auctions finally go below the psychological zero percent margin mark…

for a while now, i have been reporting on the never-ending happiness that is the finance ministry’s “one cluster, one BC” model — essentially, to split india into 20 clusters and then to have one common banking correspondent company for all public sector banks operating in each cluster. this company would then be the only […]

Another update on the banking correspondent auctions

A newly-formed association of banking correspondent (BC) companies has criticised the finance ministry’s ongoing plan to split India into 20 clusters, and to appoint a common BC company for all public sector banks operating in each cluster. In a white paper released on Thursday night, the Business Correspondent Network Managers (BCNM) Forum, a grouping of […]

On the banking correspondent auctions…

for some time now, ET has been reporting on a worrying move by the philosopher kings in the department of financial services (the offshoot of the finance ministry tasked with managing the banking sector) to overhaul the banking correspondent (BC) model. well, the auctions to appoint common BCs for all public sector banks in a […]

of banks, state firmans, bids and outcomes. part two: jharkhand

about a month ago, i wrote about a controversial plan by the finance ministry to split the country into 20 clusters, and to appoint a common banking correspondent company for all public sector banks in each. to understand the attendant implications, please click here. yesterday, the second tender in this series was awarded. it went […]

Ctrl:Alt:Del

Today’s Economic Times carries this story about an unexpectedly large change that is sweeping across the Bank-BC model. The Department of Financial Services, the part of the Finance Ministry which looks after the banking sector, has decided to split the country into 20 clusters and get all public sector banks in that region to work […]