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Financial Inclusion: Bankers perspective

Financial Inclusion: Bankers perspective. Financial Inclusion: Bankers perspective. Welcome To all the participants Presentation on Financial Inclusion Rajiv Kumar Gupta Zonal Manager Bhopal Zone. Financial Inclusion- What?.

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Financial Inclusion: Bankers perspective

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  1. Financial Inclusion: Bankers perspective

  2. Financial Inclusion: Bankers perspective Welcome To all the participants Presentation on Financial Inclusion Rajiv Kumar Gupta Zonal Manager Bhopal Zone Financial Inclusion

  3. Financial Inclusion- What? • Financial Inclusion’ is delivery of banking services at an affordable cost to the vast section of disadvantaged and low income group. • Financial inclusion also means inculcating the banking habit specially among the less privileged in urban and rural India and weaning them away from unorganized money markets and moneylenders. Financial Inclusion

  4. FI- Overview • Objective • Channel & Enablers • Facilities/ Products Offered • Stake Holders • Measuring Success Sustainability • Coverage of Villages • BC Engagement • I T Enabled Financial Inclusion • Business under FI • Corporate Plan- 2013-16 Financial Inclusion

  5. FI- Objective • To extend the outreach substantially covering 100% excluded segments of the society in 40000 villages • To develop Financial Inclusion Model in such a way that in addition to compliance of Govt guidelines it becomes net contributor to bank’s bottom-line. • Financial Inclusion for positioning ourselves in rural/urban markets, image building and saving on scarce manpower. • Leveraging Financial Inclusion for businesses like CASA deposits from Govt, micro/small/agri credits through OD/GCC and KCC. • Positioned to emerge as important player in Financial Inclusion space. • Spreading financial literacy amongst rural and underprivileged population • Providing skill training to rural youth for gainful employment Financial Inclusion

  6. Channels and enablers • Bank Branches • Business Correspondents/ Business facilitators • Demand Aggregators- SHGs/ JLGs • Technology • POS/HHT/micro ATM based • KIOSK based • Mobile based Financial Inclusion

  7. Products • Basic Savings Bank Accounts • Savings • Recurring Deposit • Affordable Credit- KCC, GCC • Payments and Remittances • DBT • Insurance- Personal Accidental Life Insurance • Financial Literacy • Pension- Swawalamban • Other initiatives RSETI/ FLC/ UID Enrolments Financial Inclusion

  8. Stake holders • People at last mile-excluded class- under privileged • BC Agents • Technology service providers • Banks • Regulators • Government • Society Financial Inclusion

  9. Measuring Success-Sustainability • For beneficiaries- to get uninterrupted services at • affordable cost at their doorstep. • For BC Agents- a source of sustainable livelihood • For technology service providers- revenue out of • increased usage of the technology • For Banks- a low cost channel and increased • opportunity for intermediation • For Regulators- better transmission of policies for a • financially included economy • For Government- targeting of entitlements, • efficiency, control of slippages Financial Inclusion

  10. FI-Progress June 2013 Financial Inclusion

  11. FI-Progress -June 2013 Financial Inclusion

  12. FI-Progress MP-June 2013 • No. of Villages covered above 2000 : 204 • No. of Villages allotted by SLBC with population 0 to 2000 (by Mar-2016) : 3430 • No. of Villages to be covered with population 0 to 2000 (by Mar-2014) : 1021 • No. of Villages covered (as on Jun 2013) : 843 • No. of Shadow area USBs opened : 452 • No. Of No frill Accounts opened :1018567 Financial Inclusion

  13. USB opened in Chichalaykala, Dist. Sehore Financial Inclusion

  14. Opening of USB Majidgarh, Dist. Bhopal Financial Inclusion

  15. USB opened in Berkhedi, Dist. Sehore Financial Inclusion

  16. Opening of USB Katai Devpura, Dist. Bhopal Financial Inclusion

  17. FI-Progress MP-June 2013 Financial Inclusion

  18. ICT based FI • No of KIOSK based outlets : 1783 • No of HHDs in the field : 2035 • No of biometry enabled accounts : 13.88 lakh • Names of Tech. Service Providers : TCS/ HCL/Integra • Names of major BC agents : Redcraft, AISECT, Janmadhyam , NICTL (in M.P. State), Transerv, Geosansar, Save, Srei SAHAJ, CSCeGov, UTL, Spanco, CMS Recent additions to BCs: FIA Global, Khoslalabs, Oswal Computers, Virgosoft, Mos Utility Financial Inclusion

  19. Other business through BCs 01.04.2013 to 30.06.2013 • NPA recovery through BCs : Rs 47.63 Cr • Write off recovery through BCs : Rs 2.91 Cr • Gold coins sold through BCs : 3.3 Kgms • SUD life insurance policies sold : 345 • Amt of insurance premium : 47 lakh Financial Inclusion

  20. Corporate Plan 2013-16 • Ensure 100% financial inclusion in 40000 villages • Opening of 125 lac Basic Savings Bank Accounts • Engagement of 18000 Business Correspondents. • Deployment of 7000 HHDs/micro ATMs • Setting up of 8000 KIOSKs • Engagement of 750 Channel Management Partners • 300% growth in Basic Savings Bank Account balances • 21 lakh KCC accounts • 8 lakh GCC accounts • Training of 15000 BCs • Operationalization of all the 52FLC centres • Operationalization of all the 42 RSETIs with own building, staff etc Financial Inclusion

  21. Major initiative under FI • Bhopal/ Indore Social Security payments • Aurangabad - Aaadhar Based SSP • Ramgarh pilot • Milk payments at Mainpuri, Gandhinagar • Delhi Annashree pilot • Jharkhand for NREGA/scholarship payments • EBT in Mohadi block (Bhandara) and Jath block (Sangali) • Opening of 1.05 lac student account at Ahmedabad • Opening of 0.85 lac student accounts at Solapur • Launch of DhanAadhaar Card • Covering villages under outreach programme of RBI Financial Inclusion

  22. Enablers put in place • Engagement with 25 corporate BCs • Always at the defining edge with respect to FI technology, processes • Streamlining of policies for BC engagements, remunerations, processes, do’s don’ts, best practices • Launch of FI Manual • Launch of Audit policy for BCs • Signage, Identity Cards, Uniform for BCs • Standardization of financial literacy materials Financial Inclusion

  23. Delivery - Enablers • Technology • Business Correspondents Financial Inclusion

  24. Business Correspondents • Corporate BCs • Individual BCs • CSC network Financial Inclusion

  25. FI-Technology • HHT- micro ATM – based • KIOSK Based • Mobile based • ATM and other alternate delivery channels Financial Inclusion

  26. HHT-micro ATM • Enrolments- offline • Smart Cards • Transactions- only online • Aadhaar based transactions Financial Inclusion

  27. HHT-micro ATM Financial Inclusion

  28. Smart Card for micro ATM Financial Inclusion

  29. KIOSK Based • Enrolments-online • No smart cards • Pass Book as first factor authentication • Transaction- online • Connectivity- internet • PC/ laptop • Printer • Biometric scanner Financial Inclusion

  30. KIOSK Based Financial Inclusion

  31. KIOSK Based Financial Inclusion

  32. CM providing Laptop to BC in Rajgarh Dist Financial Inclusion

  33. Mobile Based • Low cost • Major utility for remittance business • Biometry enablement-being tested Financial Inclusion

  34. DIRECT BENEFIT TRANSFER • DBT-The direct benefit transfer programme envisages a switch from the present electronic transfer to bank accounts of the beneficiary to transfer of benefits directly to AADHAR seeded bank accounts of the beneficiaries for the identified 34 scheme (central sector/centrally sponsored schemes )in 43 district of sixteen states/UT. This scheme has started from 01.01.2013. Financial Inclusion

  35. DBT Financial Inclusion

  36. DBT.. Financial Inclusion

  37. Corporate BC REDCRAFT team working in Hoshangabad District for DBT Scheme Financial Inclusion

  38. Our Role • The LDMs in the lead district has to collect the list of beneficiaries from the collector office in the prescribed format and distribute among the banks . • Non lead districts of the bank/branch is collecting data from the LDM office. • To Ensure that at least one account is opened per house hold . Financial Inclusion

  39. Importance of Issuance of Card • The debit card must be issued in all eligible accounts. • It will help us in offering the customer the alternate delivery channels in case need. • This will ease the work of branch as the customers need not come to Bank Branch for getting the normal services in case of need. Financial Inclusion

  40. RSETIs • Total no of RSETIs : 42 • No of programmes conducted : 1476 • No of people trained : 41393 • Allotment of land : 38 • No of persons credit linked : 14863 • In Bhopal Zone all the 3 RSETIs – Bhopal, Sehore & Rajgarh are rated under ‘AA’ category. Financial Inclusion

  41. BC Training Workshop at RSETI Bhopal Financial Inclusion

  42. FLCCs • No of FLCCs : 52 • Out of which ABHAY centres : 6 • Counselors engaged : 19 • LDMs/other officers working as counselor : 33 • Persons counseled : 81213 Counselors will be engaged at all 52 places by September 2013. Financial Inclusion

  43. UID enrolment • No of UID enrolments : 222 lakh • No of UID generated : 180 lakh • Amt received : Rs 63.76 Cr • Bank’s income : Rs 9.45 Cr • No of agencies working : 22 • In the state of M.P. No. of Enrollment Done : 101 lakh • The Bank has been awarded as ‘ The Best Bank for excellence in AADHAR related UIDAI Programme of GOI ‘. Financial Inclusion

  44. Bank of India Thank You Rajiv Kumar Gupta Zonal Manager Bhopal Zone Financial Inclusion

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