'Bank on Wheels' A Case Study of Dakshina Kannada District

International Journal of Latest Technology in Engineering, Management & Applied Sciences Volume III, Issue V, (May 2014)

8 Pages Posted: 22 Nov 2014

See all articles by Divya Prabhu

Divya Prabhu

Jain University, Bangalore

G. S. Vijaya

Jain (Deemed to be) University

Date Written: August 30, 2013

Abstract

Indian economy is a rural economy. The demographic features of rural India comprise more of population that is ignorant of utilizing even basic financial services. Access to safe, easy and affordable credit and financial services by the poor and vulnerable groups, disadvantages areas and lagging sector is recognized as a precondition for accelerating growth and reducing income disparities and poverty. Financial inclusion is the need of the hour. Banking sector, especially the co-operative sector has played a very significant role in the development of Indian economy. The SCDCC Bank Ltd basically fulfills the financial needs of rural population in particular. Taking cue from the history of Royal Bank of Scotland, the Management and the key officials made plans to introduce a unique service in their bank as one of the way to serve the interior rural area to provide banking facilities for the people residing there. This Bank introduced "Bank on Wheels" which is the first in the history of the Banking sector in India. This case study deals with exploring the concept further and studying its benefits, viability from the users’/non users’ as well as service providers’ perspective. The researcher has found that Bank on wheels initiative has contributed to the financial literacy and inclusion to a great extent.

Keywords: Banking, Bank on Wheels, Co-operatives, Financial Inclusion, Rural India

JEL Classification: G21, O18, R51

Suggested Citation

Prabhu, Divya and Vijaya, G. S., 'Bank on Wheels' A Case Study of Dakshina Kannada District (August 30, 2013). International Journal of Latest Technology in Engineering, Management & Applied Sciences Volume III, Issue V, (May 2014) . Available at SSRN: https://ssrn.com/abstract=2528982

Divya Prabhu (Contact Author)

Jain University, Bangalore ( email )

34, 1st Cross, JC Road
Karnataka
Bangalore, Karnataka 560001
India

G. S. Vijaya

Jain (Deemed to be) University ( email )

34, 1st Cross, JC Road
Karnataka
Bangalore, Karnataka 560001
India

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