PayNearby and the Grameen Foundation for Social Impact recently released a report that highlights the significant contributions of women business correspondents (BCs) in India. The report based on the survey of 1,862 business correspondents over 12 states says that women excel in engaging female customers as transaction values are 66 per cent higher than male agents.
The report highlights that female agents earn 24.4 per cent more, and 49 per cent of women BCs prefer attending workshops and seminars whereas 58 per cent male counterparts prefer reading industry publications.
However, 60 per cent of women BCs struggle to balance professional and personal responsibilities, 45 per cent value flexible working hours, 33 per cent face safety issues in remote areas, and 35 per cent of them face cultural and societal barriers. The report calls for systemic support and interventions.
The report also highlights the need for better financial assistance and professional development opportunities, with men being more aware of these. 50 per cent of women rely more on family support and guidance as a common priority, while men prioritize external training programs more. Confidence in computer and banking app skills is high, with 96 per cent of men and 91 per cent of women feeling proficient.
The report further suggests strategies to boost women's participation in the banking sector, including mentorship programs, training programs, increased access to development resources, and the inclusion of local community leaders at the panchayat level for grooming and social recognition.
