• Durga M. Ghanchi
• Dr.Shital Rathod
• Dr. Chetana R. Marvadi
• Anjali B. Makwana

The expansion of developing nations like India has been largely due to financial inclusion, which is a key factor in social and economic advancement. Approximately 1.3 billion individuals worldwide are still unbanked, and the World Bank Findex Database brought attention to the substantial and disadvantaged population in India. To bridge this gap, the Reserve Bank of India introduced the Business Correspondent (BC) model in 2006 as an innovative mechanism to extend formal banking access, particularly in rural and underserved areas. This study examines the conceptual framework of BCs, their district-wise and bank-wise presence in Gujarat, and the challenges influencing their performance nationwide. Using secondary data from RBI reports, government portals, BC registry portal and scholarly literature, the analysis highlights the rapid expansion of BC outlets, which now constitute over 84% of all banking touchpoints. BCs have played a pivotal role in expanding Basic Savings Bank Deposit Accounts and implementing flagship government initiatives such as the Pradhan Mantri Jan Dhan Yojana (PMJDY). Although these achievements, the business still faces continuing constraints such as inadequate digital infrastructure, limited financial literacy, unreliable service delivery, and unbalanced geographic coverage. These limitations restrict its long-term sustainability and effectiveness in deepening financial inclusion. This study highlights the crucial role that BCs play in reducing the financial access gap in India by reviewing their reach, effectiveness, and limitations. It also highlights the necessity of governmental interventions to promote inclusive growth in Gujarat and throughout the nation. The study recommends targeted reforms such as improving remuneration, enhancing training and institutional support, upgrading technological platforms, and fostering greater community engagement.

Financial Inclusion, Business Correspondents, Government Schemes

"“Enhancing Financial Reach of Banks through Business Correspondents: An Analytical Study with Reference to Gujarat” ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.13, Issue 2, page no.196-205, February-2026, Available :http://www.jetir.org/papers/JETIRHK06021.pdf

"“Enhancing Financial Reach of Banks through Business Correspondents: An Analytical Study with Reference to Gujarat” ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.13, Issue 2, page no. pp196-205, February-2026, Available at : http://www.jetir.org/papers/JETIRHK06021.pdf