Today I think I have some thing to share
Over 4 million Oulets in FMCG Rural outlets in Rural India : option of using fraction of these Retail outlets as banking correspondents is pretty tempting
These outlets interact with consumers closely and have good credit history of consumer ( on both intention and ability to pay) , which can be of immense value to banking sector .
But who can coordinate and monitor these retailers . It can be done FMCG companies whose products are "anchor business" for these retailers
But today Most of FMCG companies reach these outlets passively as it too costly to serve and hence the entire value chain is left under utilised . Is it possible that these too sectors come together and create distribution innovation
Quite possible and I think we can succeed in RBI allows these counters to be Business correspondents under supervision of Responsible Bank and FMCG company
