The picture emerged from the data of BLS E-Services, the country’s largest BC network.

Lucknow: An important achievement has emerged in the direction of financial inclusion in India. A total balance of over ₹10,000 crore has been recorded in financial inclusion accounts operated through the Business Correspondent (BC) network across the country, with a contribution of about ₹2,000 crore coming from Uttar Pradesh alone. This information has come out from the data shared by BLS E-Services Ltd, the country’s largest BC network.

According to the company, this balance of ₹10,000 crore as of January 31, 2026, represents the available deposits raised in financial inclusion accounts through its BC network over the last decade. In the current financial year, there has been a significant increase in deposits due to the deposit mobilization initiative.

Nearly 80 per cent of the total balance comes from Tier-4 and Tier-5 rural markets, reflecting strong participation from smaller districts and rural households. This indicates that trust in formal banking services is continuously increasing in rural areas.
Under the BC framework of the Reserve Bank of India (RBI), customer deposits remain on the books of partner banks, while BC operators act as last-mile delivery centers for account opening, deposit-withdrawals and other basic banking services.

Banking access increasing in rural areas
By December 31, 2025, the network of BLS E-Services is operating more than 45,800 Business Correspondents across the country. A large part of the network is concentrated in rural areas, where assisted banking has become the major medium for deposits, withdrawals and DBT transactions.
This network primarily opens Basic Savings Bank Deposit Accounts for partner banks under the Pradhan Mantri Jan Dhan Yojana (PMJDY). The average ticket size per account or transaction is around ₹5,000, which reflects the small savings of first-time customers and low-income customers.

Uttar Pradesh is among the top states in terms of transaction value, with West Bengal, Bihar, Odisha and Maharashtra also being major contributors.

Continued increase in transaction activity
This BC network processes over 150 million transactions annually, which equates to an average of 750 transactions per month per outlet. Apart from this, the monthly gross transaction value (GTV) of the company has also crossed ₹ 10,000 crore, which includes total transactions of deposits, withdrawals and other assisted banking services.

BLS approach
Commenting on this achievement, Loknath Panda, COO of BLS E-Services, said:
“The story of financial inclusion in India is no longer limited to just opening bank accounts. Over the past few years, we have seen the actual uptake of banking services grow rapidly in rural and smaller districts. Millions of people are now making regular deposits, withdrawals and DBT transactions through our BC network. The balance of ₹10,000 crore is an indication that trust in the formal banking system in rural India is being strengthened through small savings accounts and regular transactions. In line with larger states like Uttar Pradesh, “This contribution shows that last-mile banking infrastructure is truly driving financial inclusion.”

He further said that the company’s focus in the coming times will be on expanding the agent network, strengthening assisted digital banking services and taking banking facilities to those districts where access to formal banking is still limited.

Revenue and expansion
The BC vertical generates revenues of approximately ₹250 crore annually through commission-based arrangements with partner banks. BC Income is expected to contribute approximately 50 per cent to the company’s total revenue after the completion of the Atyati acquisition.
BLS E-Services has partnered with several banks including State Bank of India and HDFC Bank under the BC framework of RBI. The company says it will further expand its agent network in the times to come and further strengthen the last-mile banking infrastructure in underserved districts.