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6. Many of the Bank sakhi appointed by the bank are inactive, defeating the various purposes they were
recruited.
7. Branches located in the rural areas are in worst condition having lower connectivity as major telecom
companies like BSNL do not have access to these areas for which customer service is adversely
affected.
8. There is negligent contribution of private banks in financial inclusion.
9. Many SHGs formed during the year to avail only subsidy interests. There is no cooperation between
the members due to non-systematic formation of the SHG. The SHGs lack patience.
10. People are not taking interest in the overdraft facility under PMJDY due to lack of information.
Many people are not opening accounts under APY due to its long term nature.
Business Correspondents
1. Commission per transaction is very less to earn a livelihood for the BCs. The Bank Sakhi are playing
a crucial role in increasing the outreach of the bank. They are getting a commission of 2 Rs.per
transaction which is very less.
2. The Bank sakhi do not have an identity card, uniform and identity board. So they face problemwhen
they approach the people.
3. There ismostly a network problem in rural areas. There ismostly server problemduring transactions.
4. The infrastructure of CSP office is very poor. When there a defect in POS machine it is not
immediately solved. There is no substitute if smart card is damaged.
5. There is no Cooperation from Pradhan and bank manager in some villages to the BC.
Major Recommendations:
1. There could be regular interactive training workshops organised in the post offices or fair price shops
or gram panchayats offices on financial products suited to the local population. Banks should create
awareness among the public about financial management and counsel people who are struggling to
meet the repayment obligations and helping debt resolution, helping in rehabilitation of borrowers
in distress.
2. Financial literacy needs to be given importance in schools by including financial literacy chapters in
the school curriculum, and student small saving programs should be conducted where bankers visit
schools and collect small deposits, need to be revived.
3. Methods of financial literacy need to be changed from distributing printed literature to audio and
visual media such as radio and TV programs, especially in local languages.
4. The FLC reach out should increase to the people in the villages. Opening of bank accounts only
indicates reach. PMJDY’s next focus should be on increasing the usage of the accounts to make real
financial inclusion happen.
Improving Access of Vulnerable Groups to Formal Financial System:-
1. SHGs should be formed among rural people with common interests to collaborate or contribute to
any common cause.
