For people living in remote villages, completing a basic banking transaction often meant traveling to the nearest town or city branch. The BC Sakhi scheme launched by the Uttar Pradesh government has significantly transformed this landscape by bringing financial services directly to rural doorsteps while empowering women economically.
The 'One Gram Panchayat, One BC Sakhi' Model
Implemented through the Uttar Pradesh State Rural Livelihood Mission (UPSRLM) and the Department of Rural Development, the program operates on the core philosophy of "One Gram Panchayat, One BC Sakhi." Initiated in May 2020, the program trains women—particularly those associated with Self-Help Groups (SHGs)—to act as Banking Correspondents.
Selected candidates undergo rigorous training at Rural Self Employment Training Institutes (RSETIs) and must clear certification from the Indian Institute of Banking & Finance (IIBF). Equipped with digital banking tools, these women provide doorstep financial services, eliminating the need for villagers to travel long distances for routine banking tasks.
Financial Independence and Impressive Milestones
To help them establish their operations, BC Sakhis receive a monthly stipend of ₹4,000 for the first six months. Additionally, the state government provides support of up to ₹75,000 per BC Sakhi for equipment and overdraft facilities. Once active, they earn commissions ranging between 0.20% and 0.32% on transactions.
The scheme has witnessed massive expansion across the state, with operational BCs facilitating transactions worth thousands of crores of rupees, marking a monumental shift in rural financial inclusion and women's economic independence.
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