Technology enables the bank to transcend the barriers of geography and to provide services at the borrower’s doorstep. Though the initial cost is high over time it pays for itself.
Regional Rural Banks should through financial innovation try to focus on mezzanine finance, on the creation of customised products linked to the income streams of the poor borrowers and geared to meet the specific needs of the rural clientele. Mobile technology can be harnessed to improve access and usage of banking services. The Codes and RRBs 15.