Business Unit

Financial Inclusion
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UPICON launched its Financial Inclusion Business Unit in December 2017 with the signing of its Corporate Banking Correspondent (CBC) Agreement with Bank of Baroda (BOB).  In June 2018, UPICON signed its second bank, UCO Bank, as a partner and followed up with a similar agreement with Baroda UP Gramin Bank (BUPGB) in December 2019.

Financial Inclusion

Banking Business Correspondents (or BCs) are retail agents engaged by banks for providing banking services at locations other than a bank branch/ATM.  BCs enable a bank to provide its most commonly used services such as account opening, deposits, withdrawals, social security schemes, micro-insurance, etc. at very low cost locally to the bank’s customers. This network of BCs brings banking to the last mile to our villages across the states and caters to those millions of our citizens who are otherwise ill-served by bank branches located in nearby towns.  There are instances where the cost of travel to the nearest bank branch itself is a disproportionate fraction of the overall banking transaction itself.

UPICON has grown its agent network across North India and is aggressively adding agents every month.  Notable projects under this business unit is the recent project undertaken by the Uttar Pradesh Scheduled Caste Finance & Development Corporation’s (SFDC) initiative to empanel 500 youth from the most backward community as BCs with a nationalized bank, wherein UPICON is the Nodal Agency.   The Honorable Chief Minister of Uttar Pradesh formally inaugurated this project on 18TH of July 2020.


Years of Experience

UPICON has a particular expertise and experience in working on financial inclusion, through its deep reach into the sections of the society that need these services, with experience on training and skilling that helps in better execution of such services and related policies.

One of its major financial inclusion services can be seen through the policy of “STAND UP MITRA”.

Here, UPICON is working with SIDBI Stand Up India.

Recent work with


Techno Economic Viability (TEV) Study provides an appraisal of technological parameters of projects and its impact on the financial viability of projects. A TEV study is a risk mitigation exercise undertaken by banks and financial institutions prior to decision taken by a bank or financial institutions on its lending decisions for projects.


Companies and economies at times are hit with a downturn which causes financial stress on businesses. Businesses are faced by issues such as being over-leveraged, having cash pressure or liquidity shortfall or an actual or potential breach of debt covenant due to regulatory changes or macro economic environment. It often becomes difficult for companies to honour its financial commitments to lenders and requires restructuring of its finances.


UPICON has a very robust credit syndication practice and over the years has raised financial resources for its clients from Public and Private Sector Banks as well as Financial Institutions. At UPICON, we understand the value of funds in executing new projects or running on-going operations. Accordingly, we take it upon ourselves to provide the best services to our clients from the stages of understanding the viability of the project to advising clients on options of funding.



A-708,709, Rohtas Summit Building, Vibhuti Khand, Gomti Nagar, Lucknow, Uttar Pradesh – 226 010

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