West Bengal ranks second in deposit mobilisation

West Bengal has emerged as the second-largest state in deposit mobilisation under financial inclusion initiatives, according to BLS E-Services data.

The state contributed nearly Rs. 1,000 crore to the over Rs. 10,000 crore total balance mobilised through business correspondent (BC) networks across India. Uttar Pradesh remains the top contributor.

A significant 80% of deposits came from Tier-4 and Tier-5 rural areas, reflecting increased trust in formal banking systems among underserved populations. BC networks, which provide last-mile banking services, have played a key role in expanding access to financial services.

With over 45,800 BCs operating nationwide, the model continues to support financial inclusion by enabling account opening, deposits, and withdrawals in remote regions.