Technology in Banking-Insight and Foresight for BTA_2011 ... - IDRBT

Technology in Banking – Insight & Foresight 12
Community” initiative. The bank tries to provide branchless banking services to drivers, cleaners,
conductors and helpers who ply their vehicles for short distances by tying up with petrol pumps to
provide banking services. Based on the feedback the service is planned to be extended to truckers
and lorry drivers. It is planned to expand to 100 centers by March 2012 from the current 20. The
Bank is also implementing a mobile based solution that would co-exist with the RFID Cards and the
device at the petrol pumps would be able to handle transactions from the cell phones of the users as
well as from the Smart Cards. This would enable the users to carry out the transactions themselves
and visit the petrol pumps only for cash-in and cash-out.
3.1.1. FI Accounts
Exhibit 2: FI accounts (million)
A strong momentum is now increasingly visible as far as opening no-frill, FI savings and credit
accounts (Kisan Credit Card — KCC and General Credit Card — GCC) is concerned. Responding banks
have opened a total of 48.7 million such accounts. As expected, PSU banks have done better than the
average by opening 3.4 million accounts, as against 2.6 million accounts for all banks. We also
witnessed that median number of FI accounts for all banks is 2.2 million, which means that some of
the small and private banks are skewing the numbers at the lower end of the spectrum and need to
step-up efforts in that direction.
However, account opening should not only be considered as effective implementation. We identified
the percentage of active accounts, which we defined as accounts that have at least four transactions
in the last financial year and we observed a radical change in the scenario. The average percentage of
active accounts hovered around 40% on an average across all banks.
Institute for Development & Research
in Banking Technology