Commonwealth Inclusive Growth Foudation

Domestic Money Remittance Service – Frequently Asked Questions – DMR FAQ

In all major towns and cities, there is a sizeable migrant population that would like to remit money to their family and friends, regularly; workers employed in large infrastructure & building sites, lorry drivers, workers in factories & mills, etc., form a major chunk of such migrant population. Further, with greater awareness about the importance of education, more and more people are sending their wards to distant boarding schools & colleges and these students too need to receive money regularly, for their sustenance.

Traditional modes, like, Money Order, Demand Draft, etc., do have certain limitations, like, higher service charge, larger turn-around-time, dependency on availability of beneficiary, risk of loss, etc.

In order to cater to the requirements of these people and to offer a solution that is devoid of the lacunae cited above, some banks have adopted Mobile-enabled Domestic Money Remittance Service that is simple, swift & secure. It has been so designed as to take advantage of the latest developments in the banking space, like, every village having over 2,000 population having been covered under Financial Inclusion (and, below 2,000 villages also are being covered during the current FI), high levels of Mobile Phone penetration, greater popularity of the NEFT System of RBI, positive regulatory environment, etc.

Under the Domestic Money Remittance Service, a Retail outlet or Agent (Called a Business Correspondent or BC Agent) would be able to facilitate remittance of money by a Depositor into the Beneficiary’s bank account, at any Bank Branch, across India; the money would get credited into the Beneficiary’s bank account through the NEFT System.


Benefits to the Retail Agent (BC Agent / Customer Service Point):

  • Satisfaction of rendering a crucial banking service, namely, Money Remittance Service, to the needy segment of the society and, in the process, gaining respectability
  • Earn valuable fee-based income

Benefits to the Franchisee:

  • By helping empanel & manage a number of Retail Agents (BC Agents), a Franchisee would be able to earn attractive commission income, for whatever services being rendered by the Retail Agents (BC Agents) so empanelled

Criteria for becoming a Retail Agent (BC Agents):

  • Should have passed, at the minimum, X Standard (S.S.L.C)
  • Should produce a copy of S.S.L.C. Mark Sheet / T.C., a copy of the highest qualification certificate, a copy each of documents in support of address proof and identity proof
  • Should own a registered Mobile Phone Number
  • Should be conversant with handling SMS
  • Should have a minimum Working Capital of Rs.50,000 (Depends on the value of transaction done per day)

Criteria for becoming a Franchisee:

  • Should be able to empanel & manage sizeable number of BC Agents
  • Should be able to motivate the empanelled Retail Agents (BC Agents) to maintain sufficient Working Capital and source customers for Mobile Money Remittance Service

What do we provide?

Regulatory Approved Business Model

·       Commonwealth Direct Remit ™ Brand

·       Relationship with Banks

  •    i)  Negotiated rates with Banks
  •    ii)  Settlement with  Banks

·       Technology for

  •  i)  Mobile phone based money remittance
  •  ii) Mobile Gateway

·       Integration with National Payments Gateway

·       Process & Systems for domestic money remittance

·       Train the trainer for Franchisee

Interested in becoming a Domestic Money Remittance Agent or looking for franchise opportunities?

For Business Enquires:

  • Please contact +91 (0)9500050527 or
  • Email us at

Helpdesk Contact Numbers:

  • +91 (0)96000 50524
  • +91 (0)96770 11115