......In India, local money transfers are mainly conducted through 155,000 post offices. Banks also provide remittance services with the help of business correspondents (BCs) to get rural penetration. In March, the Reserve Bank of India (RBI) allowed interoperability at retail outlets or sub-agents of BCs, which means they can cater to more than one bank at a time. The central bank had also allowed banks to appoint companies as BCs, to achieve the broader goal of financial inclusion. These measures have made the local payments space more remunerative for new players..........
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