| Business Correspondent | Financial inclusion services, domestic money transfer, AEPS, payment facilitation via bank agents and merchants. | Strong bank partnerships, extensive merchant network, and government collaborations. | B2B with banks and NBFCs, B2C through retail agents and merchants. | AEPS services and EMI collection segments. | 218 | 24 | Commission-based revenue from partner banks and transaction fees. | Transaction fee-based and service commissions. | Rural digitization, increased banking penetration, government financial inclusion schemes. | RNFI Business Correspondent Services |
| Full Fledge Money Changer | Forex currency exchange and money changing services. | Licensing and regulatory compliance supporting trust and scale. | Retail and corporate clients needing foreign exchange. | Forex transaction fees. | 490 | 53 | Service fees and exchange spread margins. | Margin on currency exchange rates. | Rising travel, remittance demand, and digital payment adoption. | RNFI Forex Services |
| Non-Business Correspondent | Miscellaneous financial services beyond correspondent banking including EMI collection and payment facilitation. | Niche financial products and expanded service portfolio. | Retail and institutional clients. | EMI collection and payment gateway services. | 197 | 21 | Service fees and commissions. | Commission and fees based. | Diversification of financial products and customer base. | Non-BC Financial Services |
| Direct Broking (Life & General Insurance) | Insurance broking services for life and general insurance products. | Licensing and increasing insurance awareness. | Insurance buyers, both individual and corporate. | High-margin insurance product brokerage. | 11 | 1 | Brokerage commissions from insurance companies. | Commission-based brokerage model. | Insurance penetration growth and cross-selling opportunities. | Reliassure Insurance Brokers |
| Others | Miscellaneous ancillary financial services. | | Various financial service users. | | 7 | 1 | Service fees. | Fee-based. | Emerging financial technology innovations. | |
