Self-Help Group Members as Banking Agents for Deepening Financial Inclusion

Due to the limited penetration of bank branches across rural India, access to formal financial services has been a pipe dream for millions of rural poor for decades. However, with the advent of branch-less banking channels and advancements in techn...

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Main Authors:	Pinto, Alreena Renita, Arora, Amit, Roy, Sourav
Format:	Brief
Language:	English
Published:	World Bank, Washington, DC 2020
Subjects:	RURAL LOGISTICS SELF-HELP GROUP COOPERATIVE FINANCIAL INCLUSION BANKING AGENT COOPERATIVE BANK ACCESS TO FINANCE DIGITAL FINANCIAL SERVICES AGRICULTURAL EXTENSION MOBILE MONEY
Online Access:	http://documents.worldbank.org/curated/en/662851590658776125/Self-Help-Group-Members-as-Banking-Agents-for-Deepening-Financial-Inclusion http://hdl.handle.net/10986/34722

id	okr-10986-34722
recordtype	oai_dc
spelling	okr-10986-347222021-05-25T10:54:41Z Self-Help Group Members as Banking Agents for Deepening Financial Inclusion Pinto, Alreena Renita Arora, Amit Roy, Sourav RURAL LOGISTICS SELF-HELP GROUP COOPERATIVE FINANCIAL INCLUSION BANKING AGENT COOPERATIVE BANK ACCESS TO FINANCE DIGITAL FINANCIAL SERVICES AGRICULTURAL EXTENSION MOBILE MONEY Due to the limited penetration of bank branches across rural India, access to formal financial services has been a pipe dream for millions of rural poor for decades. However, with the advent of branch-less banking channels and advancements in technology, this situation has improved considerably over the past decade. In 2013-2014, National Bank for Agriculture and Rural Development (NABARD) and German agency for International Cooperation (GIZ) jointly implemented a proof of concept entitled self help group (SHG) members as Business Correspondent (BC) Agents under the rural financial institutions programme (RFIP) and successfully demonstrated that SHG members as banking agents or customer service points (CSPs) could deliver last mile banking services to the rural community in a cost-effective and sustainable manner. It was in this context, that the Bank Sakhi (female banker friend) model - a gender focused variant of the traditional BC model, was adapted by National rural livelihood missions (NRLM) and piloted in seven states - via special funds made available under the dedicated funding line created under the National rural livelihoods project (NRLP) in 2015-2016. This pilot initiative was scaled up by several State rural livelihood missions ( SRLMs), which charted different pathways to improve formal financial access for rural women-led households, and promoted linkages with public and private and non-bank financial institutions. 2020-11-02T21:50:56Z 2020-11-02T21:50:56Z 2020-03 Brief http://documents.worldbank.org/curated/en/662851590658776125/Self-Help-Group-Members-as-Banking-Agents-for-Deepening-Financial-Inclusion http://hdl.handle.net/10986/34722 English South Asia Agriculture and Rural Growth Discussion Note Series;No. 4 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research :: Brief Publications & Research South Asia India
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	RURAL LOGISTICS SELF-HELP GROUP COOPERATIVE FINANCIAL INCLUSION BANKING AGENT COOPERATIVE BANK ACCESS TO FINANCE DIGITAL FINANCIAL SERVICES AGRICULTURAL EXTENSION MOBILE MONEY
spellingShingle	RURAL LOGISTICS SELF-HELP GROUP COOPERATIVE FINANCIAL INCLUSION BANKING AGENT COOPERATIVE BANK ACCESS TO FINANCE DIGITAL FINANCIAL SERVICES AGRICULTURAL EXTENSION MOBILE MONEY Pinto, Alreena Renita Arora, Amit Roy, Sourav Self-Help Group Members as Banking Agents for Deepening Financial Inclusion
geographic_facet	South Asia India
relation	South Asia Agriculture and Rural Growth Discussion Note Series;No. 4
description	Due to the limited penetration of bank branches across rural India, access to formal financial services has been a pipe dream for millions of rural poor for decades. However, with the advent of branch-less banking channels and advancements in technology, this situation has improved considerably over the past decade. In 2013-2014, National Bank for Agriculture and Rural Development (NABARD) and German agency for International Cooperation (GIZ) jointly implemented a proof of concept entitled self help group (SHG) members as Business Correspondent (BC) Agents under the rural financial institutions programme (RFIP) and successfully demonstrated that SHG members as banking agents or customer service points (CSPs) could deliver last mile banking services to the rural community in a cost-effective and sustainable manner. It was in this context, that the Bank Sakhi (female banker friend) model - a gender focused variant of the traditional BC model, was adapted by National rural livelihood missions (NRLM) and piloted in seven states - via special funds made available under the dedicated funding line created under the National rural livelihoods project (NRLP) in 2015-2016. This pilot initiative was scaled up by several State rural livelihood missions ( SRLMs), which charted different pathways to improve formal financial access for rural women-led households, and promoted linkages with public and private and non-bank financial institutions.
format	Brief
author	Pinto, Alreena Renita Arora, Amit Roy, Sourav
author_facet	Pinto, Alreena Renita Arora, Amit Roy, Sourav
author_sort	Pinto, Alreena Renita
title	Self-Help Group Members as Banking Agents for Deepening Financial Inclusion
title_short	Self-Help Group Members as Banking Agents for Deepening Financial Inclusion
title_full	Self-Help Group Members as Banking Agents for Deepening Financial Inclusion
title_fullStr	Self-Help Group Members as Banking Agents for Deepening Financial Inclusion
title_full_unstemmed	Self-Help Group Members as Banking Agents for Deepening Financial Inclusion
title_sort	self-help group members as banking agents for deepening financial inclusion
publisher	World Bank, Washington, DC
publishDate	2020
url	http://documents.worldbank.org/curated/en/662851590658776125/Self-Help-Group-Members-as-Banking-Agents-for-Deepening-Financial-Inclusion http://hdl.handle.net/10986/34722
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Self-Help Group Members as Banking Agents for Deepening Financial Inclusion

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