In pursuit of a Better Tomorrow

Bihar Rural Livelihoods Promotion Society (BRLPS), JEEViKA aims to provide livelihood opportunities to the community members through various activities. One of the interventions is ‘Bank Sakhi’ model. It aims to provide financial services (Banking Services) at the doorstep of un/under banked areas. At the same time, through this intervention, it provides livelihood opportunities to the Banking Correspondent Agents (BCA) and thus, improves the standard of living.

Need for Digital Financial Services Programme

Due to the limited penetration of bank branches across rural India, convenient access to formal financial services had been a pipe dream for millions of rural people for decades.

However, with the advent of branch-less banking channels and advancements in technology, this situation has improved considerably over the past decade. Earlier people travelled long distances to transact at nearby ATM, Customer Service Point (CSP) or bank branches. Many times, they had to return without conducting transactions due to server downtime or cash crunch at CSP or ATM.

The cash- carrying risk for JEEViKA’s SHG members and MFI customers has also reduced as they can now transfer funds to SHG account or MFI account from the Bank Sakhi outlet. People with restricted mobility due to physical conditions such as old age, being physically challenged, or those restricted by social norms such as teenage girls or newly married women are now able to access financial services without being dependent on anyone.

Objective of the Project

To support upscale of alternate channel-based service delivery architecture by providing advisory and management support for effective Financial Inclusion of beneficiary households and providing digital financial solutions to Community Based Organization (CBOs) under Bihar State SRLM.

• Providing banking services at the doorstep of un/under banked areas
• Community Based Organizations’ transaction through CSPs
• Providing livelihood opportunities to the SHG members by empowering them to work as Bank Sakhis (Business Correspondent Agents)

Empowering Gender

The Bank Sakhis have been able to connect the unbanked sections, especially the rural women, with the banking services. Almost half of their customer base is women. The approach has also led to economic empowerment of the Bank Sakhis themselves. It has empowered them by building their capacities to offer a wide range of banking services to their community. The women who were hesitant to step out of their houses alone are today opening bank accounts, visiting the bank branches, conducting awareness camps, and playing an important role to achieve the national goal of financial inclusion.

Source : Inspirational Stories of Aatmanirbhar Rural Women