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. A suite of new products, including micro-loans, remittances, micro-insurance etc. are being delivered in addition to liabilities products, using state of the art, secure, simple and cost-effective technology solutions.
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.
RBL Bank is expanding its customer reach in this business through its semi-urban and rural branches, network of business correspondents, sub-agents and physical infrastructure of corporate business correspondents. The Bank will be rolling out its Financial Inclusion products and services in urban geographies over a period of time.
Among the RBL branch network, from most of the branches the products and services of rural banking & financial inclusion are offered
To view the branch locations where FI products are offered, please Click here.
We believe that the best way to reach rural remote customers is to make banking a convenient, affordable exercise. Our business correspondent network is set up in a hub-and-spoke framework, with RBL Bank branch being the hub and the spokes being the business correspondent outlet in our customer's village.
See our business correspondent outlets
To view the list of Bank Mitr (BC) appointed under PMJDY program, please
UIDAI empanelment: Recognising 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).
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 andMicro-Enterprise Finance.
Affordable financial Institutions - Short and medium term on balance sheet and off balance sheet capital market solutions to promote growth of high quality, ethical and socially conscious microfinance organisations. Offerings also include deposits, current account, foreign exchange and retail banking services for MFI staff.
Microbanking - Direct delivery of financial products and services including credit, savings, remittance, insurance and investment products to clients in semi-urban and rural areas. The Bank extends these solutions through Joint Liability Group/Self-Help Group models.
The Bank has a keen focus to support growth of micro-enterprises in the country and currently offers working capital and term funding to micro-enterprises in its branch service area. The Bank is developing a focused business model to address the specialized needs of micro-enterprises engaged in multitude of economic activities in various clusters around the country.
For more details please visit our Micro & Small Business Banking section
Affordable, convenient and easy to access - our products are specifically tailored to meet the needs of our clients.
Microsavings and remittances
Personal Banking Products
Customer Service1800 123 8040
Credit Cards Helpline1800 121 9050