Let us Move up from opening bank accounts, offer Insurance and Investment products.
By when we will graduate Urban and Rural poor to get other Products of #FinancialInclusion? #Insurance (not talking about government sponsored insurance) and #Investment?
How many bank accounts do these people need to open to Qualify as #FinanciallyIncluded?
The Situation is #Pathetic in Rural areas where most of the New (PB & SFBs) and even established bank are asking a person to open bank account with them and that too with some amount. Imagine a poor saving Rs 500 – 1500 per month has to put this amount in multiple bank accounts because he has to maintain relation with service provider staffs who are locals of that area, and if they need to take loan from that entity, then maintaining relation becomes more important. Why every #FinancialRelation must Start with opening bank accounts only? Can’t we provide Financial products and its benefits to these people without opening multiple bank accounts? The reason, there are so many dormant bank accounts are, either these were opened without informing to customers or out of so many accounts they can not remember/maintain these accounts.
I have highlighted these points and reasons in a short video.
Please Watch and Answer/Discuss those questions, these needs to be #Highlighted and Discussed for Impact.