Role of Business Correspondence Model in Socio-Economic Empowerment of Women

Abstract

In order to achieve the government objectives of equality and inclusive growth, the RBI has taken major initiation for financial inclusion. Whereas, banks have introduced the Business Correspondence (BC) Model in order to reach unbanked and under banked arrears. Whereas some of the MFIs (NGOs, NBFCs etc,.) are also collaboratively working with various public and private sector banks to act as BC network managers. In Karnataka, SKDRDP (Shri Kshetra Dharmastala Rural Development Project) is one such institution which has collaborated with various banks to provide formal financial services to poor women and unbanked area of operation. However, this study is conducted to evaluate the role of BC Model in socio-economic empowerment of women through SKDRDP. This study has collected primary data from Shivamogga region only. After testing the hypothesis the study revealed that, SKDRDP’s Business Correspondence model truly contributing for socio-economic empowerment of Women in the study area.