NABARD - Student Internship Scheme 2016-2017 - page 63

2. Formation of JLGs can financially strengthen the landless labors, marginal farmers and weavers.
The labor class can have access to loans which otherwise they cannot borrow from banks due to want
of collateral security.
3. Since majority about 50% of the rural mass are marginal farmers formation of farmer’s club (10
members) can help farmer’s to discuss about the problems related to agriculture knowing about
different govt. schemes and in adopting the new technologies to increase their financial status.
4. More Rural self-employment Training Institute (R-SETI) should be set up in rural areas to make the
rural youngsters of BPL families self employed by giving them training in various fields and enhance
their capacity building.
5. The need for financially inclusive services has actually increased in recent years as the cost of social
commitments such as health, safety and security has risen along with improved life expectancy.
While people retire relatively young they need adequate funds to maintain their standards of living.
The need for financial services such as insurance, remittances, reverse mortgage loans, facilities for
pensioners and deposit schemes for the older population has grown over time.
Increasing Outreach:
1. Brick and mortar bank branches for every village with population more than 2000 should be
2. The pilot project of GBA on using SHG members as Bank sakhi launched in Unnao district was a
great success. They are playing effective roles as BC to offer financial services in unbanked villages.
This project should be scaled up in other districts of UP through the help of RRBs.
3. Business Correspondents
• A BC need to be rebranded as a banker against the existing image of a travelling salesman which
would enhance the acceptability of BCs among general public. This would reduce the attrition rates
of BCs and increase their loyalty towards the profession.
• The status of a bank employee to a bank sakhi would help them to counter regressive objections of
women being salespeople.
• Banks could also look at skill development by conducting regular, structured training sessions for
BCs. Active CSP should be given more villages. Mini statements of Aadhaar linked account should
be facilitated.
• PACS can also act as BCs of Cooperative Banks for their better outreach
• Banks can tie-up with India Post by setting up small banking counters at each of their post offices,
especially rural branches thus solving the high fixed cost issue for banks in establishing a new brick
and mortar branch. If audio-video enabled ATMs are installed to announce simple instructions in
the local language in the premises of post offices, then trained guards could facilitate withdrawals,
deposits and also account opening forms.
4. Similar to the post offices, network of fair price shops can be utilized by launching a joint venture of
banks and Food Corporation of India to install devices which will be used for both Public Distribution
System (PDS) and banking transactions through smart card and biometric identification.
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