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Rural Outreach for Banks: Challenges and Possible Solutions
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Author(s): Subhankar Halder (IMT Ghaziabad, India), Prashant Chandrashekhar (IMT Ghaziabad, India), Ayush Asthana (IMT Ghaziabad, India), Krishan Kumar (IMT Ghaziabad, India), Gandharvika Choudhary (IMT Ghaziabad, India)and Allu Reshma (IMT Ghaziabad, India)
Copyright: 2015
Pages: 14
Source title:
Promoting Socio-Economic Development through Business Integration
Source Author(s)/Editor(s): Shalini Kalia (IMT Ghaziabad, India), Bhavna Bhalla (IMT Ghaziabad, India), Lipi Das (IMT Ghaziabad, India)and Neeraj Awasthy (IMT Ghaziabad, India)
DOI: 10.4018/978-1-4666-8259-7.ch010
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Abstract
The intention of this chapter was to explore the reasons as to why the poor in Indian cities shun banking services. On the basis of a survey of 25 low-income daily wage earners, it was noted that although there is awareness about banks, strict ID card requirements and corruption are the major explanations of this sociological happening. Further, in this chapter, the authors have tried to document the steps taken by the Serva UP Gramin Bank to address this issue. Finally, based on the results of a research survey and field visits to the Serva UP Gramin Bank, recommendations of encouraging private banks to compete in the rural market and increasing the reach of the bank branches have been enumerated.
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