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What will make us winners Extremely low cost of transaction & servicing Rapidly scalable model This is where we all wish t...
Path to the “right” corner <ul><li>Customer friendly processes </li></ul><ul><li>Inclusive technology </li></ul><ul><li>Le...
Concerns of RBI <ul><li>Safety of depositors’ money </li></ul><ul><li>Discourage fly-by-night operators </li></ul><ul><li>...
Regulations <ul><li>Non - profit entity as Business Correspondent </li></ul><ul><li>5/10/15km - 200km and no branch </li><...
Mood of the  Practitioners <ul><li>Regulations should not be prescriptive </li></ul><ul><li>Let banks, service providers i...
 
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Mo Mo Eko

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Transcript of "Mo Mo Eko"

  1. 1. What will make us winners Extremely low cost of transaction & servicing Rapidly scalable model This is where we all wish to be!!!
  2. 2. Path to the “right” corner <ul><li>Customer friendly processes </li></ul><ul><li>Inclusive technology </li></ul><ul><li>Leverage infrastructure - minimal CAPEX </li></ul><ul><li>Teach less - leverage behavior </li></ul><ul><li>Adequate controls & safeguards </li></ul>
  3. 3. Concerns of RBI <ul><li>Safety of depositors’ money </li></ul><ul><li>Discourage fly-by-night operators </li></ul><ul><li>Denial of service </li></ul><ul><li>“ Non-banks don’t understand risk” </li></ul><ul><li>Anti Money Laundering / Combating Financing for Terrorism </li></ul>
  4. 4. Regulations <ul><li>Non - profit entity as Business Correspondent </li></ul><ul><li>5/10/15km - 200km and no branch </li></ul><ul><li>Subagents - leveraging the trusted “kirana” shop </li></ul><ul><li>Passbook / statements - OPEX / on-demand </li></ul><ul><li>KYC - balance with controls / limits </li></ul><ul><li>Encryption - SIM change / application-on-phone </li></ul><ul><li>Encourage branchless banking </li></ul><ul><li>Deposit - bank account or cash card or informal </li></ul>
  5. 5. Mood of the Practitioners <ul><li>Regulations should not be prescriptive </li></ul><ul><li>Let banks, service providers innovate </li></ul><ul><li>Should allow for sustainable model to evolve </li></ul><ul><li>Spirit needs to be conveyed beyond the letter of law - relaxed KYC!!! </li></ul><ul><li>Level playing field </li></ul>
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