PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

596227

Primary Business Area

Access To Finance

Disclosure Date

Sep 26, 2012

Country

India

Region

South Asia

IFC Approval Date

Jun 20, 2012

Status

Completed

Estimated Total Budget

$440,000.00
(Project budget includes all project-funded activities)

Last Updated Date

Jun 14, 2018

Project Estimated End Date

May 31, 2015

Project Description

The project aims to support an Indian bank in establishing a financial inclusion model around agent banking targeted at the migrant population. The project will be piloted in the state of Gujarat. The bank will work with select business correspondents to develop an agent network in areas with dense migrant population, provide assistance in opening accounts, and facilitate remittances through select banking channels. The bank will use remittances as an entry product and market other products to migrants through the agent network. The agents of the network will be trained to cross-promote other products of the bank such as savings or credit to this new set of customers. The project will develop a business case and revenue models for a profitable financial inclusion business.

Development Results