f i nanc i a l i nc lu s i on i n i nd i a
23
be covered will pose a greater challenge than experienced
thus far in order to achieve the ambitious nature of the
target of full coverage by March 2016.
2
However, it has been observed that the accounts
opened and the banking infrastructure created has not
seen substantial operations in terms of transactions. A
brief review of the performance of banks under FIPs up
to 31 March 2014 (Table 2.1) reveals the following:
•
The number of banking outlets has gone up to nearly
3,84,000. Out of these, 1,15,350 banking outlets were
opened during 2013–14.
•
Nearly 5,300 rural branches were opened during the
last one year. Out of these, nearly 4,600 branches were
opened in unbanked rural centres (Tier V and Tier VI
centres).
•
Numbers of Business Correspondents have increased
from 34,532 (end of FY 2010, i.e., 31 March 2010)
to 337,678 (end of FY 2014). Despite this spectacular
increase several issues related to branchless banking
through these agents persist. These are discussed more
extensively in subsequent sections and in Chapter 3.
Essentially while numbers have increased, attrition
rates too continue to be unacceptably high and the
number of villages covered is still scarcely more than
half the total of nearly 6,00,000. As such this channel
has still not stabilized as a viable delivery mechanism
for financial services.
•
Nearly 33,500 BC outlets were opened in urban loca-
tions during the year taking the total number of BC
outlets in urban locations to 60,730 as at the end of
March 2014. Recognizing the special needs of the
excluded urban population, under the PMJDY urban
financial exclusion has been given special emphasis.
•
More than 60 million basic savings bank deposit
accounts (BSBDAs) were added during the 2013–14
taking the total number of BSBDAs to 243 million.
Here too the massive increase in the BSBDAs does
not accurately reflect the true picture both regarding
the facility available on these accounts or the usage
of these accounts. About 70 to 80 per cent of these
accounts are estimated to lie unutilized. The renaming
of the former no frills accounts (NFAs) as BSBDAs
still does not guarantee access to bank, passbook and
T
ABLE
2.1
Performance Evaluation of Financial Inclusion Plans of Banks
Particulars
31 March
31 March
31 March
Progress—
2010
2013
2014
April 2013 to
March 2014
Banking Outlets in Villages—Branches
33,378
40,837
46,126
5,289
Banking Outlets in Villages—Branchless Mode
34,316
2,27,617
3,37,678
1,10,061
Banking Outlets in Villages—Total
67,694
2,68,454
3,83,804
1,15,350
Urban Locations covered through BCs
447
27,143
60,730
33,587
Basic Savings Bank Deposit A/c through branches (No. in million)
60.2
100.8
126
25.2
Basic Savings Bank Deposit A/c through branches (Amt. in Rs. billion)
44.3
164.7
273.3
108.6
Basic Savings Bank Deposit A/c through BCs (No. in million)
13.3
81.3
116.9
35.7
Basic Savings Bank Deposit A/c through BCs (Amt. in Rs. billion)
10.7
18.2
39
20.7
BSBDAs Total (No. in million)
73.5
182.1
243
60.9
BSBDAs Total ( Amt. in Rs. billion)
55
182.9
312.3
129.3
OD facility availed in BSBDAs (No. in million)
0.2
4
5.9
2
OD facility availed in BSBDAs (Amt. in Rs. billion)
0.1
1.6
16
14.5
KCCs—(No. in million)
24.3
33.8
39.9
6.2
KCCs—(Amt. in Rs. billion)
1,240.1
2,623
3,684.5
1,061.5
GCC—(No. in million)
1.4
3.6
7.4
3.8
GCC—(Amt. in Rs. billion)
35.1
76.3
1,096.9
1,020.6
ICT A/Cs—BC—Transaction (No. in million) (during the year)
26.5
250.5
328.6
328.6
ICT A/Cs—BC—Transactions (Amt. in Rs. billion) (during the year)
6.9
233.9
524.4
524.4
Source
: RBI (2014).
Note
: Figures in column 5 might not tally due to rounding off of numbers.
