8/18/2019 Extension of Banking Services for Financial
Inclusion
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EXTENSION OF BANKING SERVICES FOR
FINANCIAL INCLUSION*
Under the financial inclusion plan the Reserve Bank of India
(RBI) decided to provide financial facility
at an affordable cost to people who are unable to utilize the
benefits of the plan. For successful
implementation of this plan, RBI instructed banks to make
financial services available in the rural
areas also. New innovative trends in technology has changed the
traditional ways of banking with
smart and alternative banking models like – Milk ATM, Mobile-van
Business Facility, etc. The objectiveof this case study is to
understand the new innovative techniques, models, resulting in
extension of
banking services initiated by many banks for Financial
Inclusion.
The approach for this case study is data collected from various
banks (both primary and secondary
sources) and the methods used to address the issue on Financial
Inclusion. Among various innovations
Electronic Benefit Transfer system facilitates smooth financial
transaction and decreases money leakage.
Similarly, extension of banking services not only will register
an increase in bank accounts but will also
facilitate the long term goal, of RBI and the Government, of
economic growth and prosperity.
Pedagogical Objectives• To create an awareness about financial
inclusion, its need, and various ways adopted by banks
• To comprehend the issues or problems in implementing the plans
for financial inclusion?
• To find out the solutions to overcome the issues or challenges
in financial inclusion
• To know how banks have adopted technology for transformation
of banks from core banking
services to the technologically driven services
• To understand the concepts like Financial Inclusion,
transformation of banking services, application
of IT in business
Case Positioning and Setting
• Financial Inclusion, ICT, Business Innovations
ABSTRACT
Global Summit onManagement Cases
GSMC 2014
© www.etcases.com* GSMC 2014, IIM Raipur
