175x Filetype PPT File size 2.25 MB Source: darpg.gov.in
As per Rangarajan Committee Report Financial Inclusion is the process of ensuring access to appropriate financial products and services needed by vulnerable groups such as weaker sections and low income groups, at an affordable cost, in a fair and transparent manner by mainstream institutional players. 2 Important Milestones on Road to Financial Inclusion in India 1904 Setting up of Rural Cooperatives 1969 Nationalization of 14 major Commercial Banks 1975 Setting up of Regional Rural Banks 1990s Self Help Group 2005 RBI advised banks to open no frill accounts 2006 RBI allowed BC/BF to act as agents of banks Sept. 2010 RBI allowed for - profit companies (excluding NBFC) to act as Business Correspondent 2011 National Payment Corporation of India (NPCI) launched Interbank Mobile Payment System (IMPS) 3 OUR BELIEF Banking to the unbanked is a profitable business MISSION “Banking for the Unbanked” VISION “ To be a leading Global Bank with PAN India footprints and become a household brand in the Indo-Gangetic plains, providing entire range of financial products and services under 4 one roof ” Financial Inclusion Models Adopted by the Bank Brick & Mortar Model - Opening PNB MITRA-No frill accounts (Zero balance accounts) with relaxed KYC norms - Launched PNB Mitra ATM card; withdrawal limit : upto Rs. 5,000 ICT (Information & Communication per day. Technology) Model – Base Branch acts as a focal point for Business Correspondents (BCs) – BCs are engaged by the Bank/technology providers – BC Agents (BCAs) contact the customers for enrollment and issue biometric smart cards. – 5 BCAs use laptops and POS in Off Line mode. – Relaxed KYC norms Project FI through RRBs • Following Srinivasan Committee recommendation, to leverage technology for business and inclusive growth, the project CBS@RRB implemented in all the 6 RRBs sponsored by PNB in April,2010. • Six RRBs sponsored by PNB: - Haryana Gramin Bank ,Rajasthan Gramin Bank, Punjab Gramin Bank - Himachal Gramin Bank, Sarva UP Gramin Bank, Madhya Bihar Gramin Bank. No. of Service Outlets 1488 Avg. no. of Txn. In Lacs (Post CBS) per 3.07 day • Customer Base (In Lacs) 87.94 Project adjudged as the best IT implementation for year 2010 by PC QUEST Magazine. • Project was awarded SKOTCH AWARD for the year 2010. 6
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