Amplifying Financial Inclusion Services by Incentivising Agents

State and Development Partner

Multiple States

MicroSave Consulting

Innovation

Geeta Devi loves her jobs as a bank agent. She has completed her high school education and, now, with a short-term training course she is not only proficient in computer skills but is also a great saleswoman. She goes door-to-door educating her tribal community about financial inclusion shcemes like pension and insurance that ocme under the government's Jan Suraksha Scheme. She educates her community on financial services available to them besides provideing services to those unable travel. She is one among many bank agents working in communities to ensure maximum population benefits from formal banking system services. However, over time, agents tend to feel bogged down and get demotivated due to challenges in achieving their goals. 

Social recognition for one's work can have rejuvenating effects, bringing back a new rigour in old work and building a healthy competition among the agents. To this end, local administration has facilitated an award ceremony where the best and the most hard-working agents are recognised for their efforts. Geeta received a certificate from the District Administration for ther work in the tribal belt as she introduced most number of customers to social security shemes last year bringing a large section of the unbanked population under the fold of the formal financial system. This badge of honour not only gives Geeta's work it's due recognition but encourages other agents to strive for the same.

Source : Stories of Change from India's Aspirational districts - NITI Aayog publication