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Technology in rural banking

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  • 1. Technology in Rural Banking in India.• Amar Patil 43• Santosh Nangare 36• Vinayak Bingewar 08• Sagar Gaidhankar 15• Shripad Telang 59• Sandeep Jain 22• Vinutha Shetty 55• Gajendra Ugile 60• Urvi Parikh 42• Saurabh Karjatkar 24• NavyaSindhu Chaudhary 33• Nikhilsingh Rajput 49
  • 2. Why rural banking?An urgent need to deliver citizen services a costeffective way Enable the ready access at the place of the villagers Reducing transaction cost to make the services affordable Reduction in delays Improving the quality of services available
  • 3. Basic business model.
  • 4. Pigmy Deposit• You can save money with the Bank regularly depending on your convenience• And need not visit the Bank for doing so• The Banks authorized Agent collects your savings at your doorsteps at regular intervals• And your money silently grows over 63 months into a lumpsum for meeting your future commitments e.g. daughters marriage, childrens education, family functions, house purchase etc
  • 5. Kisan(Farmers) Credit Card• Another notable development in recent years is the introduction of Kisan Credit Cards(KCC) in 1998-99• The purpose of the Kisan Credit Cards(KCC) scheme is to facilities short term credit to farmers• The scheme has gained popularity and its implementation has been taken up by 27 commercial banks, 187 RRBs and 334 Central cooperative banks
  • 6. • Rural Credit Delivery Solution using Digital Rural Information Infrastructure
  • 7. Business Process Automation (BPA) – Key to Low Cost Remote Banking Services
  • 8. Advantages• Increased personal and organizational productivity• Better Decision Making• Enhanced operational excellence• Access to self- validated data / information• Techniques and tools for evaluation of the credit on an individual basis• ICT helps in reducing costs, delays, increases accuracy, objectivity and reduces governance problems in the credit assessment• Enables more efficient capital allocation and improvements in quality of lending
  • 9. PDA Software• Collection of data, documents and voice• Envision Company• Integrated with the RCDS System at the backend to facilitate seamless data transmission from the PDAs to the RCDS Server using web services
  • 10. Credit Rating Solution• A credit rating solution for the rural individuals was prepared using a separate model developed for the purpose• Likewise, a voice-based authentication system was also developed for testing
  • 11. Document Management Software• Integrated with RCDS system• Provides by STEX
  • 12. Information System• Rural information infrastructure model• Reputed market research agency was employed• Implemented in 5 villages Uttara Kannada district in Karnataka• Pre-Programmed PDAs were used
  • 13. MICROFINANCE• Microfinance works for a novel cause “Banking for Poor”• The microfinance initiative in private sector in India (75%) of MFIs in two States• Most of the MFIs (95%) were found to operate in one State only• 68% of the MFIs operated in only one district