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Mobilizing Bank Deposits from Rural India

Presented by: Darshan Patil Varun Rajegore Sunil kumar Singh

M-11-37 M-11-43 M-11-56

Rural India A Profile

Population 1 Billion (approx.) 2/3rd of Indian population is in rural areas Indian households avg. Income - 4,579/annum rural india - 3,500/annum Main sources of rural income :Agriculture (47.9%) Agriculture wage (13.3%) livestock (6.6 %) Rural consumer now demands for consumer durables & non - durables

Bank Deposit Potential in Rural India

Commercialization of agriculture Diversified activities Invest their surplus in insurance & deposits and keep balance savings in a local bank.

Approach to Rural Banking

SBI - 1955 Expand banking facilities, in rural & in semi - urban areas. 1969 - Nationalization of 14 commercial banks - control economy. 1975 - RRBs - focus only on rural areas - efforts of cooperatives & commercial banks 1982 - Promote & supervise institutions & channelise credit to rural areas - NABARD kissan credit cards self help group

Rural Choice Architecture

Financial institutions in rural areas are Agricultural credit societies Co operative banks Commercial banks Regional rural banks (RRBs) In view of poor resources , these institutions extend themselves to more of lending than collecting deposits. Post Offices - mobilize savings Offers saving bank accounts, accept term deposits and small saving scheme.

Attributes in choosing with whom to bank in rural India

Convenience of location Bank reputation Province of head office Interest on savings Bilingual staff W-O-M validity Service charges Attractiveness of branch Safety of funds Availability of credit Inter branch facilities Speed of processing Interest on loans Hours of operation Cultural orientation of bank Efficiency of personal Impression of manager Range of services offered

Challenges in Rural Promotion

Advertising + Public relations Ineffectiveness of traditional media
Print ( 9% reading population) TVC (31% TV audience) Radio ( 32% radio listeners)

Low literacy levels

Total: 52% ( 63% M , 39% F)


Questions for effective promotion

What are the exclusive tools of rural promotion? What will be the most profitable rural media mix?

What should be the most appropriate delivery formats for the advertising message?
What will be the best allocation of media budget?

First Building Block

Puppet shows by UBI Village haats
Hoardings Sheds Microphone ads

Melas and fairs

Alleppey boat race, Kerala Kisan melas

Rural Media mix

Medium TV Press Radio Cinema Urban 79 51 66 47 Rural 35 20 43 43

All Media



Source: Business India

Non-Mass Media
Sarpanch Developmental Official Returning locals Educational persons Social workers Shopkeepers Rumours and folklore

Opinion Leaders
Social workers Schoolteachers Doctors Returnees from Cities Religious people

Hoardings and Billboards

Hoardings at market places, bus, railway station etc. Should be simple & easy to remember Written in regional language Customize hoardings at bus shelters

Yet to be tapped Villagers unaware of Banking Brands The landlords, village elders and moneylenders General distrust of big financial institutions

Video Films
Give information about various developmental schemes Youth club, farmers fora Reach to potential depositors Follow up discussion

Delivery Formats For Rural Communication

Combine Traditional folk media with modern media
Participation in traditional folk events Sponsor events & programmes

Allocation of Media budget

Launch of special events Promotional campaigns Reaching new areas Meet new priorities

Barriers to Rural Promotion

Bankers doubt effectiveness of advertising Advertising is waste of resources