BLS e-services to increase Business Correspondent network to 60,000 agents by FY27

New Delhi, May 20 (PTI) Digital service provider firm BLS e-services on Tuesday announced plans to expand its Business Correspondent (BC) network to over 60,000 agents by 2026-27 to expand its reach across rural, semi-urban, and underserved regions in the country.             Currently, BLS e-services, a subsidiary of BLS International, operates a network of over 44,800 active BCs serving more than 23,900 rural/semi-rural PIN codes and 17,600 urban locations.

India’s Business Correspondent industry is projected to exceed Rs 14,700 crore by FY2025, growing at a CAGR of 19 per cent. With over 13.5 lakh BCs currently active nationwide, BLS e-services aims to cement its position as the most reliable, scalable, and tech-enabled operator in this evolving sector.             In a release, the company said it plans to grow its BC base by more than 50 per cent over the next two years, reaching more than 60,000 plus touchpoints by fiscal 2026-27.

"Our mission is to convert every BLS outlet into a true one-stop digital access point," said Shikhar Aggarwal, Chairman, BLS e-services.                      BLS said it is also investing in AI-led customer analytics, backend process automation, and rural digital commerce integration through its proprietary BLS Sewa platform.

In 2024-25, BLS e-services recorded over 14 crore transactions (for BC business) with a Gross Transaction Value (GTV) exceeding Rs 87,000 crore during the same period.

Over the years the company opened around 12 lakh new Basic Savings Bank Deposit (BSBD) accounts and played a role in the disbursal of over Rs 1,00,000 crore in Direct Benefit Transfer (DBT) payouts, the release said.

In the fourth quarter of the last fiscal, the company posted a total income of Rs 245.2 crore and a net profit of Rs 17.3 crore. PTI NKD DR