The second big challenge lies in moving beyond numbers and looking at how we actually make a difference. There is a disappointingly large number of cases of bank branches with low customer footfalls; BCs who drift off after a few months and “no frills accounts” which remain largely inoperative. This is where issues of perception come in.
Unless banks are convinced that reaching out to the common man is not just a forced regulatory imperative but a potential business opportunity, the numbers will remain without life. The Reserve Bank looks forward to competition among banks to develop business models for such small, low staff and low cost branches. Conclusion 47.