Making it Easier to Apply for a Bank Account: A Study of the Indian Market

32 Pages Posted: 27 Sep 2017  

Asli Demirgüç-Kunt

World Bank - Development Research Group; World Bank

Leora F. Klapper

World Bank; World Bank - Development Research Group (DECRG)

Saniya Ansar

World Bank

Aditya Jagati

World Bank

Date Written: September 26, 2017

Abstract

This paper draws on new individual-level survey data from India to study the costs of opening an account and the efficiency of the account application process. The data show a recent increase in account ownership, especially by women and poor adults. The data also suggest that India's flagship financial inclusion program, the Jan Dhan Yojana scheme, has made it easier to get an account, through lower costs and greater ease of applying. Yet despite the scheme's initial successes, people who wish to apply for an account continue to incur a range of costs. The survey results suggest several recommendations that could improve the account application process and increase ownership and usage of accounts.

Keywords: Inequality, Marketing, Private Sector Economics, Private Sector Development Law

Suggested Citation

Demirgüç-Kunt, Asli and Klapper, Leora F. and Ansar, Saniya and Jagati, Aditya, Making it Easier to Apply for a Bank Account: A Study of the Indian Market (September 26, 2017). World Bank Policy Research Working Paper No. 8205. Available at SSRN: https://ssrn.com/abstract=3043539

Asli Demirgüç-Kunt (Contact Author)

World Bank - Development Research Group ( email )

United States
202-473-7479 (Phone)
202-522-1155 (Fax)

HOME PAGE: http://econ.worldbank.org/staff/ademirguckunt/

World Bank ( email )

1818 H Street, NW
Washington, DC 20433
United States

Leora F. Klapper

World Bank ( email )

1818 H Street, N.W.
Washington, DC 20433
United States
202-473-8738 (Phone)

HOME PAGE: http://econ.worldbank.org/staff/lklapper

World Bank - Development Research Group (DECRG)

1818 H. Street, N.W.
MSN3-311
Washington, DC 20433
United States

Saniya Ansar

World Bank

1818 H Street, NW
Washington, DC 20433
United States

Aditya Jagati

World Bank

1818 H Street, NW
Washington, DC 20433
United States

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