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Coronavirus: Rural India to face cash shortage amidst lockdown, says BCFI

Coronavirus: Rural India to face cash shortage amidst lockdown, says BCFI
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The Business Correspondent Federation of India (BCFI), a body representing fintech companies working towards the delivery of financial services to underbanked and unbanked, on Friday discussed challenges arising in the rural economy after the Indian government announced a national lockdown to curb the spread of COVID-19 in the country.  


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Members of the BCFI also estimate a cash shortage to arise in rural areas of the country as Business Correspondents (also called ‘Bank Mitra’) are restricted from travelling. 

“Bank Mitras cannot travel freely despite the services provided by them coming under the ‘essential service’ category as approved by the Home Ministry.

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