Agent banking has been a key way of banking amongst village dwellers. Since 2018 there has been a big boom in agent banking in the country. It has opened up various pathways for the people living in both rural and urban areas. Because of the coronavirus pandemic and other similar factors, the number of people who have come under agent banking is very staggering.
According to a report published in this daily, agent banking is increasingly becoming popular in the rural area across the country as the number of agents and outlets has increased by 15.96 percent and by 12.59 percent despite the Covid-19 pandemic. This rise in agent banking also means that there is a heightening of living standards and livelihood condition of locals around these places. A better access to banking services means that there is constant flow of cash and that means economic solvency for many.
The latest form of agent banking offers many
services and can help rural people with banking
The report also shares that a cumulative 8,221,893 accounts have been opened through agent banking of which 3,749,087 accounts belong to female customers and 7,111,887 accounts belong to rural mass. Also, an increased 9.94 percent of female accounts have been opened through agent banking outlets. This goes on to show that people are continuing to support the agent banking systems spread across the country.
In this age of digitalisation, agent banking has reached almost all corners of the country and thus has established a sense of connectivity between the customers looking to avail the banking services and the banks. Rural people are getting great benefits as a result of agent banking. The latest form of agent banking offers many services and can help rural people with banking services accordingly.
Since, a huge amount of remittance comes into the market, we believe that agent banking will be a crucial aspect of banking which should be expanded for the benefit of the masses.