Developmental Banking and Financial Inclusion

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 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.

Branch Banking

Among the RBL branch network, from most of the branches the products and services of rural banking & financial inclusion are offered. Please click here to view the branch locations where FI products are available.

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 here, click here

View the list of Bank Mitr (BC) appointed under the PMJDY program, click here

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).