IndusInd Bank`s `Bharat Money Stores`- Enabling Financial Inclusion for the Masses

IndusInd Bank`s `Bharat Money Stores`- Enabling Financial Inclusion for the Masses
Case Code: FINC198
Case Length: 6 Pages
Period: 2017-2021
Pub Date: 2022
Teaching Note: Available
Price: Rs.300
Organization: Bharat Financial Inclusion Ltd
Industry: Banking
Countries: Asia
Themes: Banks and Banking, Business Models, Technology in Financial Services,
IndusInd Bank`s `Bharat Money Stores`- Enabling Financial Inclusion for the Masses
Abstract Case Intro 1 Case Intro 2 Excerpts

Background

BMS was started in 2017 by BFIL, a subsidiary of IndusInd Bank. BFIL was earlier known as SKS Microfinance Private Limited and was founded in 2003. In 2016, SKS Microfinance changed its name to BFIL. In 2017, BFIL approved its merger with IndusInd Bank and launched an instant microloan facility along with the BMS project, which was an association with small merchant shops. The competitors of BFIL were Spandana Sphoorty Financial Limited, Fincare Business Services Ltd, Svatantra Microfin Pvt. Ltd, and Arohan Financial Services Limited..

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