Group representing business correspondents seeks raise, writes to govt

Model is critical for financial inclusion but commissions have not been revised 'in a decade'

The Business Correspondent Resource Council (BCRC) is to make a case for an increase in the commission paid to agents with the Ministry of Finance, along with related issues such as the setting up of an annual pricing review committee and a re-examination of the penalties imposed by banks on business correspondents (BCs).

The BCRC is advocating for a 30 basis point increase in the commission paid by banks for cash withdrawals, cash deposits, money transfers, Aadhaar-enabled Payment System (AePS) transactions, and other banking and financial services.
 

Currently, the commission paid to BCs is not uniform and varies