Over the past decade, business correspondents (BC) agent outlets have grown by nearly 45% CAGR compared to bank branches, which grew at 6.4%. However, female BC agents represent only 10% of the BC agent network. Mounting evidence points to increased financial activity by women if they transact with a female BC agent.
In this note, Microsave Consulting discusses a supply-side perspective on expanding women’s agent network in India, based on a survey with private BC network managers. The note discusses the efforts made on several fronts to recruit and include more female BC agents and the challenges supply-side providers face in the process.