Punjab National Bank

punjab national bank
FINANCIAL INCLUSION Experience sharing

Summer Training Project
(08th June 31st July)
Pratik Jain
June 26, 2011
19TH June 2006 PUNJAB NATIONAL BANK HO: I T DIVISION
the name you can BANK upon !
OBJECTIVE OF STUDY
To know the measures and initiatives taken by the PNB to help SHG and financially challenged people under Financial Inclusion project.
To know the level of Financial Inclusion in the nearby areas of Gandhi Nagar.
June 26, 2011
19TH June 2006
PUNJAB NATIONAL BANK HO: I T DIVISION
BANKING THE UNBANKED PNB Endeavour for empowerment

of
socially and economically challenged.
June 26, 2011
19TH June 2006
PNB Financial Inclusion Two models -No frill account at the branches -smart card enabled , BC supported FI
Status of initiatives already taken:

PNB is running FI projects at 75 locations.
o 67,000 a/cs were opened recently. o Different technology providers solution are being tried. ( like FINO etc)
PNB having a customer base of around 3510000 under Financial Inclusion project. All delivery points are managed through BC.
Bank plans to cover 30000 villages by 2010

June 26, 2011
PNB Financial Inclusion vision Across the length and breath of the country. Provide affordable credit Branchless Banking
June 26, 2011 June 26, 2011
Initial Focus on covering Indogangetic Belt including States: Rajasthan Haryana Punjab HP UP Bihar Jharkhand WB Orissa
PNB Financial Inclusion
Pilot Projects Undertaken by PNB:First pilot project to bring the urban poor into the banking fold at Ludhiana, with the opening of 12,000 'No Frills Deposit' accounts. 3 October, 2008 in Rajasthan (1,00,000 + till march 09) Jan. 3, 2009 in Saharanpur district of Uttar Pradesh. The bank had earlier launched similar projects in Bihar and other states.
Recent & Most Successful projects
June 26, 2011
19TH June 2006
Task Assigned
Other Tasks:Customers Enquiry KYC Forms CST DVAT Vouchers Loans
7 schools were assigned to our team of 2 trainees under
supervision of Mr. D.C Sagar, the head of this project. Direct to schools approach was adopted to open up a/cs for students. Our task was to personally meet the principals of these schools and chalk out the strategy for opening accounts of students. To make sure that each student is covered under this mission. Number of accounts opened in the training period was 4800 (approx) by our team of two trainees.
June 26, 2011
19TH June 2006
Own effort Gandhi Nagar and nearby areas. 150 households above 25 years
Survey
The following Questions were asked to respondents:The occupation of the respondent, educational qualification, the source of income for the family and whether the respondent had an account, if so then which bank. About the awareness of new measures for financial inclusion like no-frills account, and relaxation of KYC norms for accounts The reasons for exclusion. The credit requirements and whether they had availed or are interested in availing credit from banks and for what particular reason. The use of financial services and instruments and also the frequency of them going to banks to measure financial awareness. Reach ability of student account opening campaign of PNB to their homes. Impact of student account opening and Financial Inclusion campaign of P.N.B.
June 26, 2011
19TH June 2006
Suggestions
Careful analysis of all the responses given by respondents helped in having a clear picture about the progress & level of financial inclusion in the concerned areas on the basis of which following suggestions were made:Private Public Collaboration Retired bank employees as Business Correspondents Separate department following a professional approach Strengthening financial literacy: With already achieving a considerable 47% of financial inclusion in the area, the rest 53% need to be brought into mainstream. ATMs cash dispensing machines can be modified suitably to make them user friendly for people who are illiterate, less educated or do not know English
June 26, 2011
Banks should give wide publicity to the facility of no frills account.
Conclusion
Long term gains. Low margins high volumes
Relatively low margins on high volumes can be a very profitable proposition.
Technology can be a very valuable tool in providing access to banking products in remote areas.
Financial inclusion can emerge as commercial profitable business. Only the banks should be prepared to
think outside the box!

June 26, 2011
Thank You !
MBA Sec-A
June 26, 2011
19TH June 2006

Punjab National Bank - Financial Inclusion

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FINANCIAL INCLUSION Experience sharing

the name you can BANK upon !

June 26, 2011

19TH June 2006