THE INITIATIVE

• Taking Friends into Account

THE BENEFICIARIES

• Villagers and SHG members in 205 villages in Indore, Dewas and Rajgarh districts, Madhya Pradesh

THE CHALLENGE

• Poor indices of financial inclusion, absence of established banks
• SHG members unaware of their potential to play a dynamic role
• Ensuring sustainability of Bank Sakhis

THE SOLUTION

• NABARD extended assistance to Narmada Jhabua Gramin Bank for better financial services
• Active women SHG members were identified to become Bank Sakhis and trained to handle Point of Sale (POS) terminals or laptops
• A system to ensure commission on volume and not transaction basis was put in place

THE IMPACT

• Revenue model created for Bank Sakhis to earn R3,000+ per month
• Total enrolment is 11,982
• Rate of attrition less in comparison to conventional Business Correspondents
• Definite expansion in network of financial inclusion