BLS E-Services Ltd has announced plans to significantly expand its Business Correspondent (BC) network in Telangana, aiming to strengthen the state’s rural banking and financial inclusion ecosystem.
The company currently operates over 400 BC touchpoints across Telangana and plans to scale this number to between 3,000 and 4,000 BC centres over the next few years. The expansion is expected to extend formal banking services to a large number of villages and semi-urban areas, improving access to essential financial services and supporting rural economic activity.
“Telangana continues to be a key focus market for us due to its strong financial inclusion momentum and growing demand for assisted banking services. Our BC network plays a crucial role in bridging access gaps, particularly in underserved and remote areas,” Lokanath Panda, Chief Operating Officer, BLS E-Services, said.
He added that with the support of partner banks, the company is confident of scaling its BC network while ensuring sustainability for agents and reliable services for customers.
At present, BLS E-Services has BC operations across several districts, including Hyderabad, Ranga Reddy, Medchal-Malkajgiri, Warangal, Mahabubnagar, Sangareddy, Nalgonda and Karimnagar. These touchpoints facilitate services such as cash deposits and withdrawals, basic account services, and access to government benefit schemes for customers in semi-urban and rural locations.
The expansion is being driven by rising adoption of digital banking, increasing demand for assisted financial services, and government-led financial inclusion initiatives. BLS E-Services is working with partner banks including State Bank of India and HDFC Bank, while also scaling operations with Karur Vysya Bank, Indian Overseas Bank and Bank of Maharashtra.
BLS E-Services said it remains focused on strengthening India’s last-mile banking infrastructure by delivering inclusive, accessible and technology-enabled financial services across geographies.
BLS E-Services Ltd is a subsidiary of BLS International Services Ltd and provides Business Correspondent services, assisted e-services and e-governance solutions across India. The company is listed on BSE and NSE