Agriculture Banking – Development Banking And Financial Inclusion

Developmental Banking and Financial Inclusion

For India's growing economy to realise its full potential, we must ensure that every Indian has access to the tools they need to protect their money, increase their capital and grow their businesses and livelihoods. At its core, RBL Bank believes that financial inclusion is about promoting the country's economic growth through providing a range of financial services to those who currently have limited or no access to them.

RBL Bank is strategically committed to financial inclusion and we are uniquely positioned to bank the base of the pyramid in a commercially sustainable manner. Historically the bank has successfully served the agricultural and rural economy through its extensive semi-urban and rural branch network. The bank is further enhancing its reach by opening more branches in semi-urban and rural geographies, and setting up a Business Correspondent network to provide doorstep services in villages.

The Opportunity

With a significant population of the country being unbanked and underserved, there is a great opportunity to provide formal financial services both in rural and urban geographies.

In India, close to 50% of the total population is being served by the Banking institutions, however with the decrease in income levels, the financial inclusion levels come down to around 30% in the low income population segments. Further, these households do not have access to multiple products and services to address their credit, savings, investments and risk management needs. The financially excluded customers most often build capital through informal savings mechanisms, pledging assets and borrowing from informal high cost sources.

RBL Bank addresses this market by developing an insight into customer needs, understanding the uncertainty and unevenness of the cash-flows, and customising products to suit the requirements of each of its customer segments. The Bank is expanding its branch network in semi-urban and rural geographies. It is also engaging Business Correspondents to provide last mile connectivity to villages which are not directly connected to its branches. An important aspect of inclusive growth is creating awareness about financial discipline and educating its customers about the use of right financial product for the right purpose, and therefore financial literacy is one of the core pillars of RBL Banks Financial Inclusion offering.

Our Network

RBL Bank is expanding its customer reach in this business through its network of corporate business correspondents. The Bank offers Financial Inclusion products and services in rural/semi urban/urban geographies.

Below are the business correspondents for MFI:

SR. No	Business Correspondent and Addresses	Operating States	Products Offered
1	New Opportunity Consultancy Pvt Limited 707 &708, Cyber One, Sector 30, Vashi, Navi Mumbai-400703, Maharashtra, Ph: 02220870050	Tamil Nadu, Pondicherry, Kerala, Karnataka, Uttar Pradesh, Tripura	Saving a/c, Joint Liability Group Loans, Insurance
2	RBL Finserve Limited (formerly : Swadhaar FinServe Pvt. Ltd.) C/301 Lotus Corporate Park, CTC No.185/A, Graham Firth Steel Compound, Western Express Highway, Goregoan (East), Mumbai-4000063. Ph: + 91 22 33183500	Karnataka, Odisha, Jharkhand, Bihar, Madhya Pradesh, Rajasthan, Maharashtra, Gujarat, Haryana, West Bengal, Punjab, Assam, Meghalaya, Uttar Pradesh, Himachal Pradesh, Jammu and Kashmir, Kerala, Tamil Nadu, Andhra Pradesh, Telangana	Saving a/c, Joint Liability Group Loans, Insurance
3	Pahal Financial Services Private Limited 7th Floor, Binori B Square – 2, Opp. Hathising ni vadi, Ambli Iscon Road, Ahmedabad – 380054 Ph: +91 2717 479169	Chhattisgarh, Goa, Karnataka, Madhya Pradesh, Maharashtra, Uttar Pradesh, Uttarakhand, West Bengal	Saving a/c, Joint Liability Group Loans, Insurance

See our business correspondent outlets here, click here

List of BC for Retail Assets:

SR. No	Business Correspondent and Addresses	Operating States	Products Offered
1	Pinkcity Fincap Pvt. Ltd. D-38/A, Ashok Marg, near Ahinsa Circle,Panch Batti, C Scheme, Ashok Nagar, Jaipur, Rajasthan - 302001	Rajasthan, Maharashtra	Secured Loans (Home Loans & Loan against Property)
2	Finplex Technologies Pvt. Ltd Ground Floor, K 12, Green Park Extension, New Delhi -110016	Andhra Pradesh, Telangana, Tamil Nadu, Karnataka	Secured Loans (Home Loans & Loan against Property)
3	Iqube Fyncare Pvt. Ltd. B 3 Shiv Gayan Avenue Apartment, Yudisher Marg, C Scheme Opp Raghuvansh Guest House, Jaipur, Rajasthan - 302001	Rajasthan	Secured Loans (Home Loans & Loan against Property)
4	My Finance 19-8-60/A, Lane No 3, Hathiramji Colony, Opp. Lane of unlimited Showroom, Air Bye Pass Road, Tirupati - 517501	Andhra Pradesh	Secured Loans (Home Loans & Loan against Property)
5	RBL Finserve Limited, (formerly : Swadhaar FinServe Pvt. Ltd.) C/301 Lotus Corporate Park, CTC No.185/A, Graham Firth Steel Compound, Western Express Highway, Goregoan (East), Mumbai - 4000063	Karnataka, Madhya Pradesh, Rajasthan, Maharashtra, Gujarat, Haryana, Punjab, Kerala, Tamil Nadu	Secured Loans (Home Loans & Loan against Property)
6	1T9 Technology Private Limited (OTO) 1090C, Municipal No. 1197/1090C, 14th Main, 18th Cross, Sector 3, HSR Layout, Bangalore, Bengaluru - 560102	Rajasthan, Karnataka	Two-Wheeler Loan

List of BC for Rural Business Group:

SR. No	Business Correspondent and Addresses	Operating States	Products Offered
1	Samaaru Finance Private Limited 7th Floor, Amar Madhuban Tech Park, Opp. Audi Showroom, Baner, Baner Gaon, Pune, Pune City, Maharashtra - 411045	Gujarat, Karnataka, Rajasthan, Tamil Nadu	Retail Agri – Dairy Loans
2	Environment Conservation Society (Switch On) 1A, Debendra Lal Khan Road,Jaju Bhawan, Kolkata, West Bengal – 700027	West Bengal, Delhi	Retail Agri – Agri Loans
3	Saswat Financial Technologies Private Limited 509-510, Rajhans Helix 3, LBS Marg, Ghatkopar West, Mumbai - 400086	Maharashtra, Karnataka	Retail Agri – Dairy Loans
4	Gram Tarang Inclusive Development Services Private Limited B-107, KSR Pleasant Valley, Madhavadhara, Visakhapatnam, Andhra Pradesh - 530018	Karnataka, Telangana, Andhra Pradesh, Tamil Nadu	Retail Agri – Dairy Loans

UIDAI empanelment: Recognizing the unbanked and under-banked residents' need for easier access to our banking services, RBL Bank has empanelled with the Unique Identification Authority of India (UIDAI).

The Segments

Under its Developmental Banking & Financial Inclusion Group, RBL Bank provides products and services to all the constituents of low income salaried and self-employed individuals in rural and urban areas, and micro-enterprises engaged in services and manufacturing sectors. The business group is further sub-divided into sub-groups based on client segmentation – Affordable financial institutions, Microfinance and Micro-Enterprise Finance.

Micro Finance

Microfinance is a financial service designed for low-income individuals, small entrepreneurs, and underserved groups who do not have access to traditional banking. Services offered by us include Joint Liability Group Loans (small loans), savings accounts, and micro-insurance. The primary objective of microfinance is to promote financial inclusion and empower individuals to become financially independent and self-sufficient.

Check the fair practice code applicable to microfinance borrowers: click here
Check the fair practice code in regional languages: click here
Check our interest rate for Microfinance loans: click here
Check Customer's Loan Documents for Microfinance loans: click here

Products

Joint Liability Group Loan (JLG) - Micro Finance Loans
Joint Liability Group Loan (JLG) - Income Generating Loans (IGL)
Savings Accounts
Credit Life Micro Insurance

Micro Banking

Micro banking is the practice of providing individuals in semi-urban and rural areas with direct access to financial products and services such as credit, savings, remittance, insurance, and investment products. Through the Joint Liability Group/Self-Help Group concepts, RBL Bank expands these solutions.

Products

Crop Loan
Crop Loan - Vegetables
Agri Investment Loan - Land Development
Agri Allied Loan - Dairy
Agri Allied Loan - Non-Dairy
Micro-enterprise loan

Micro Enterprise Finance

We offer working capital and term lending to micro-enterprises as part of our commitment to fostering their expansion. To meet the unique requirements of micro-enterprises involved in a wide range of economic activities in different clusters around the nation, we are creating a targeted business model.