PayNearby and the Grameen Foundation have released a report titled "Gender Gap in the Business Correspondent Industry: Evidence from the Field," highlighting women's challenges in the business correspondent industry. The report, based on survey data from 1,862 business correspondents across 12 Indian states, highlights the significant role women play in engaging female customers and the need for systemic support, interventions, and policies to address these issues. The report also emphasizes the importance of empowerment initiatives in bridging the gender gap in financial services.
The report says that women business correspondents (BCs) significantly contribute to financial inclusion and growth in their communities, acting as the first point of contact for banking services in rural and underserved areas. They engage more effectively with female customers, bridging the gender gap in the formal financial sector. According to the report, 45 per cent of women BCs value flexible working hours compared to 38 per cent of men. 69 per cent of women plan to scale up BC operations in the next 3-5 years compared to 61 per cent of men. Additionally, 49 per cent of women prefer attending workshops and seminars to stay updated, while 58 per cent of men prefer reading industry publications.
However, around 60 per cent of female BCs find it difficult to balance professional responsibilities. Challenges like balancing professional responsibilities, safety, mobility, and cultural norms limit their opportunities. Support systems, training programs, and incentives can help women BCs succeed.
