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A spotlight on Business Correspondent Tenders



This content will take the readers to the field of business correspondent and business facilitator tenders throughout India, showing Maharashtra as the pioneer in issuing all tenders for this industry. Such an approach exemplifies the state’s perseverant endeavor to improving financial inclusion and economic growth.

Annual Analytics:

Analyzing the data will be useful in determining how economic centres are making bid requests for an business correspondent services tenders at the national level. Consequently, this section would analyze the number of tenders issued according to states. The states with the highest number of tenders are Maharashtra with 144 and Uttar Pradesh with 12 tender releases. With 144 and 12 tenders, Indian Oil Corporation Limited of Mahrashtra and Small Industries development bank of india of Uttar Pradesh respectively stand out among other agencies, which is followed by 6 tenders released by Indian Bank of Delhi. Some other noteworthy organisations are the Life Insurance Corportaion of India of Tamil Nadu, National Rural Livelihoods Mission (Kerala), the Punjab and Sind Bank (Jammu and Kashmir) and Central Electronics Limited (Odisha) with 6, 4, 4 and 3 tender releases respectively. These tenders indicate a wide range of demands of business correspondent services across several regions.

Business correspondent tenders:

The business correspondent tenders used by the banking sector to channel services to the populace in underserved and remote areas via unique models and partnerships, represent financial services innovation in inclusive banking. The bank which is called Andhra Pragathi Grameena Bank located at Andhra Pradesh advertises for getting corporate business correspondents as a part of bank services which involve other rural regions. Likewise, Uttar Pradesh Cooperative Bank Ltd. released this edition of tender for the submission of bids for serving bank business correspondent and digital services at cooperative societies locations, reflecting the far-reaching vision of public institutions to ensure the use of technology in the area of financial inclusion. Announcing a job as a business correspondent supervisor, the Bank of Baroda required the business correspondent supervisors in Uttar Pradesh campaign emphasising on-site support and structures for the successful deployment of financial services. The case of Central Bank of India in Mahijashtria and Indian Bank in Tamil Nadu issuing multiple tenders for appointing corporate business correspondents gives an example of the incentives for such financial service providers to serve urban and metro locations to expand their financial inclusion efforts. The Delhi office of Punjab and Sind Bank published advertisements to identify vendors who will act as electronic banking correspondents as well as implement holistic best solutions in the area of financial inclusion, thus indicating the bank’s goal of using technology for inclusive financial services. Technology-based solutions being more appropriate in the banking sector of Odisha, Gramya Bank in Odisha issued a similar tender as a result of which emphasising the importance of technology is important in financial inclusion strategy. The village level branch of the Gramin Bank in Kerala held a tender for business correspondent services on readymade models, thereby utilising the tablets for reaching the remote areas, is an example of how technology is being used smartly. Similarly, this Baroda Rajasthan Kshetriya Gramin Bank in Rajasthan also arranged for the selection of eligible corporate business correspondent entities to forge stronger banking infrastructure in rural areas. In summary, this initiative of the banking industry, in collaboration with its partners, technology adoption, and customer service that addresses the various needs of the disadvantaged groups have, portrays its readiness to enhance the financial inclusion in India.

Business Facilitator tenders:

The Indian Oil Corporation Limited (IOCL) released some tenders to recruit agents as Business Facilitators in different states of the country. These among other roles were geared towards helping in provision of banking services in areas with both infrastructural and population challenges, therefore impacting financial inclusion and enhancing economic development. For Maharashtra, IOCL declared several invitations to tender for the service of Ease of doing Business including Inland Transport Ministry in Tripura, Sikkim, Mizoram, Haryana, Uttarakhand, Jharkhand, Arunachal Pradesh, Meghalaya, Himachal Pradesh, Manipur, Nagaland, Punjab and Bihar. Each bid was designed according to the standards defined by the concerned states. For instance, one tender specialised on hiring of Agents as Business Facilitators in state Tripura. In particular, these tenders specified the services which business facilitators shall provide in turn such as opening of new accounts, cash deposit and withdrawal, and recommendation of certain banking products and services. Unspecified compensation plan in the business enabler tenders shows there should not be Rewards or commission which is performance or transaction based but a fixed income. This strategy that targets creating a business environment where the business facilitators are equally involved in working with community and education on financial inclusion also fulfils the goal of incentivising them to actively promote financial literacy and inclusion. On the whole, the business facilitator tenders undertaken by the IOCL have a singular objective of emphasising services that connect the people who don’t have a bank account or limited access to financial services in the remote areas which is the ultimate step towards the overall goal of financial empowerment and inclusive development.

Live Tender Analysis:

Maharashtra, among all states in the country stands apart uniquely in the services of business correspondents being the leading state that has issued not just one tender, but all 100% of tenders that the country has issued. In that context, it shows the state is always on its toes to come up with modalities for easy procedures and the practice of fair banking.


In conclusion, this analysis shows that the government agencies are engaging business correspondents to ensure door delivery of banking services to the citizens in need. It can be said that the fact that the business correspondent tenders are only issued by the Bank of Maharashtra is an illustration of the organization’s devotion to providing financial services that are easy to access for the general public. Such a pro-active approach shows that the government of the state is ready to give financial inclusion, which is necessary for the sake of the national economic development.


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