To March 2010, about 50.6 million No Frills Accounts (NFAs), with an outstanding balance of Rs.53.86 million, were opened by banks. However, a significant number of new customers acquired by banks under the inclusion effort have remained dormant. This Note concludes that although there is high dormancy in the NFAs, these accounts represent a large potential client base. Banks need to work on designing innovative products, improved delivery mechanisms, and appropriate marketing and incentives for the BC model. Customers are willing to pay for the banking services offered by BCs and this user-friendly financial inclusion model can go a long way towards boosting the use of NFAs substantially.
Deposit Assessment in Nepal
Commissioned by IFC, MicroSave conducted the “South Asia Deposit Assessment” studies to increase understanding of the demand and supply of savings products among poor in Nepal. The reports highlight regulatory and operational challenges for financial institutions and mobile banking platforms that want to serve the low-income market.
Deposit Assessment in Bangladesh
This report attempts to understand the demand and supply of savings products among poor in Bangladesh, and highlights regulatory and operational challenges for FIs and mobile banking platforms in the country.
The Answer is “Yes”- Cost and Willingness to Pay in India
MicroSave is undertaking a series of research studies to support the financial inclusion agenda in India. This multi-region study focuses specifically on the services business correspondents provide in rural areas – and whether or not this particular customer segment thinks the greater convenience and other potential benefits are worth paying for.
Deposit Assessment in Sri Lanka
Commissioned by IFC, MicroSave conducted the “South Asia Deposit Assessment” studies among poor in Sri Lanka. The study provides direction and enables financial institutions to offer tailored products for low income people.
The Future of Financial Services for the Poor
The presentation outlines the factors that influence the financial behaviour of the poor across different regions. The presentation also discusses third generation MFIs and usage of No-frills accounts. The topic of e/m-banking is also covered at the end.