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Monthly Archives: July 2012

the banking correspondent auctions resume

after a brief hiatus, the reverse auctions to choose common banking correspondents (see innumerable posts below) have resumed. the latest update.

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Another update on the banking correspondent auctions

A newly-formed association of banking correspondent (BC) companies has criticised the finance ministry’s ongoing plan to split India into 20 clusters, and to appoint a common BC company for all public sector banks operating in each cluster. In a white paper released on Thursday night, the Business Correspondent Network Managers (BCNM) Forum, a grouping of 25 BC companies, faulted the ministry’s decision on a number of grounds.

The complete story here. For context, see this and this. Or scroll down this page and you will see a bunch of more granular posts on how this finance ministry plan has unfolded since it was first unveiled three months ago.