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Financial Inclusion through Less Cash Transactions

  • Vision of the Project 

Creating a less cash environment in Kunigal taluk, through the establishment of Kiosks and M-Pos.

  • Mission of the Project 

Inculcate the habit of thrift and safe banking habits by using RuPay Cards.

  • Target Group 

  • Rural men and women, especially small and marginal farmers, agricultural labourers and persons engaged in allied activities.

  • Students above the age of 10 years.

  • About IDF 

Established in the year 2001, IDF (Initiatives for Development Foundation) is an NGO pioneered by retired developmental bankers of a reputed public sector bank, all of whom set out with a common objective in mind “Empower the Underprivileged”. It works at the grassroots level for empowerment of the underprivileged sections of the society and does research on developmental issues in India. It works in partnership with the Govt.of India, Govt.of Karnataka, donor organizations and several other social and multi-lateral agencies. In context with the experience that IDF has in working with small and marginal farmers, IDF is currently implementing the MKSP project with the support of Ministry of Rural Development (Govt.of India) in Gubbi Taluk (Tumkur District) and Rayabag Taluk (Belagavi District).

  • About VIF

Vattikuti India foundation (VIF) is dedicated to helping poverty alleviation in the rural Indian communities. The Poverty Alleviation Initiative (PAI) was launched in Sept 2009 by the foundation and focus on enlarging the scope of Community Based Organisation (CBO) led initiatives in entitlements, education, enterprises and employment (4Es), and health services besides providing support for livelihoods and financial inclusion. Poverty Alleviation initiative also focuses on the establishment of the Community Service Centre’s (CSC) that serve as the single window service point to provide G2C, GP services, banking and other B2C, B2B services using IT.

  • About the bank 

State Bank of India is an Indian multinational, Public Sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra and also its corporate office in Mumbai, Maharashtra. As of December 2013, it had assets of US$388 billion and 17,000 branches, including 190 foreign offices, making it the largest banking and financial services company in India by assets. 

  • About the service

 This project proposes to take Banking Kiosks and M-POS to the rural areas, using the already     established CBO (Community Based Organisation) platform, further drawing strengths from a very robust and well-designed software based MIS.

  • Market Analysis

 The project area of Kunigal Taluk, comprising of 36 GP’s and 340 villages, where various nationalised, private and co-operative banks are operating in full vigour. SBI, though has a single branch in the taluk, is covering whole of the region through its BC network, provided by IDF. As this network has a strong foot-hold in the community through established CBO’s (such as SHG, JLG, Koota, Samuha). The project implementing agency has an edge over the other players in the market.

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