More Than 30% Of Women Business Correspondents Face Safety Concerns, Reveals Study

In India, nearly 33 per cent of the women business correspondents (BCs) have safety concerns while working in the remote areas  and and 35 per cent face cultural and societal barriers, revealed a recent study conducted by and Grameen Foundation for Social Impact. The joint report on Gender Gap in the Business Correspondent Industry revealed that 60 per cent of the women correspondents struggle to balance their professional and personal responsibilities and the safety concerns and the societal norms make it even worse for them.  

Business correspondents or BCs are individuals or entities that provide banking services to customers in remote areas on behalf of a bank.

Despite facing such challenges, the female correspondents outperform male correspondents in terms of bringing business, as per a recent study conducted by PayNearby and Grameen Foundation for Social Impact. The women correspondents excel in engaging female customers and thus their transaction value is  66 per cent higher than those handled by male agents at retail stores. Women correspondents also earn 24.4 per cent more than their male counterparts while engaging with female customers.

“While women BCs demonstrate remarkable resilience and economic impact, they face unique challenges, particularly in balancing household responsibilities with their professional roles. To fully unlock their potential, there is an urgent need for transforming the balance of power in households and communities, supportive policies, targeted financial assistance, and capacity-building programs," said Bharati Joshi, CEO Grameen Foundation India (GFI) and Grameen Foundation for Social Impact (GFSI).

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The findings of this report are derived from comprehensive survey data collected from 1,862 business correspondents across 12 Indian states. The report suggested that the female customers feel more comfortable conducting higher-value transactions with agents of the same gender.

The report suggested that irrespective of genders , financial independence remain the main motivation to to serve their communities. However, flexibility in work hours is a stronger motivator for women at 45 per cent as compared to men at 38 per cent.

The report also revealed that while both genders seek financial support, 61 per cent of men show a higher awareness for training and professional development opportunities while 47 per cent of women cited the need for supportive policies.

“We believe women BCs should receive fair recognition for their contributions, with clear and unbiased criteria for performance evaluation, helping mitigate gender biases and promote a more equitable professional environment,” said Jayatri Dasgupta, Chief Marketing Officer, PayNearby.