 "Finance Ministry, Ministry of Finance")
The Union Ministry of Finance (FinMin) is planning to direct banks to implement geotagging for all Business Correspondents (BCs) in order to enhance accountability and facilitate better monitoring of their activities. This is also expected to ensure that services are delivered effectively and efficiently to the intended beneficiaries, according to a senior government official, who requested anonymity.
A BC is a bank representative who provides banking services to customers in areas without bank branches.
“The government is planning geotagging of BCs. It will help banks to provide valuable data on customer behaviour for informed decision-making, aid in fraud prevention by
