Eko India's Financial Inclusion Initiative

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Case Details:

Case Code : FINC060
Case Length : 18 Pages
Period : 2007-09
Pub. Date : 2009
Teaching Note :Not Available
Organization : Eko India Financial Services Private Limited
Industry : Banking and Financial Services
Countries : India

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Excerpts Contd...

The Challenges

Some analysts felt that even though Eko had developed a platform which was cost-effective and user friendly, it might face some challenges while scaling up. According to the RBI Guidelines for BCs released in October 2008, any bank's BC must be within a distance of 15 km from the concerned branch in semi-urban and rural areas and within 5 km distance in the case of metros. This regulation would pose a problem to Eko when it expanded to cover rural areas where most of the villages did not have any bank branch within 15 km radius...

The Road Ahead

The mobile phone subscriber base was witnessing a healthy growth in India with mobile penetration increasing from 19.8% in 2007 to 29.7% in 2008 and estimated to reach 40% in 2009 (Refer to Table II for Mobile Penetration and Future Projection in India)...


Exhibit I: Factors that Act as Barriers for Financial Inclusion
Exhibit II: RBI Guidelines for KYC Norms
Exhibit III: RBI's Business Facilitator and Business Correspondent Model
Exhibit IV: RBI Guidelines for Mobile Banking
Exhibit V: SBI's Mini Savings Account Main Features
Exhibit VI: Mobile Subscribers Growth in Rural and Urban India (1998 - 2008)

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