BC network faces heat from qcom platforms as agents take up gig work

The business correspondent banking channel is facing attrition as agents are leaving over declining commissions, despite bringing in more new deposits than branches

The country’s business correspondent (BC) network is facing a challenge from an unexpected quarter: retail delivery platforms like Swiggy, Zomato, Blinkit and Amazon. Poor remuneration to BC field agents, and in general, the better payout terms offered to boots-on-the-ground by retailers is making retention of the former in the bigger cities and towns a matter of concern.

 

So much so that business correspondents are now moonlighting as delivery agents for quick-commerce firms to make some extra money.

 

“There has been attrition and retaining BC agents is a major challenge”, said D Tripathy, chief executive officer, Business Correspondent Resource Council. According