ICT SOLUTIONS FOR FINANCIAL INCLUSION BY CANARA BANK

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ICT SOLUTIONS FOR FINANCIAL INCLUSIONBY CANARA
BANK

• PRESENTATION BY
• SRI R.V.GUPTA
• GENERAL MANAGER
• CANARA BANK
• CIRCLE OFFICE HYDERABAD

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FINANCIAL INCLUSION

• FINANCIAL INCLUSION
• Bank has given top most importance to the
  financial inclusion.
• As per the guidelines of RBI, the Bank has
  advised all our Lead Districts to complete the
  financial inclusion, by making available the
  basic 'Nofrill' accounts to the financially
  excluded house holds.
• Our bank has the Lead Bank Responsibility in 25
  Lead Districts spread over in five states,
  namely, Karnataka, Kerala, Tamilnadu, Bihar and
  UP.

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FINANCIAL INCLUSION

• All our Lead Banks have put their best efforts
  in coordinating with other Banks and completed
  the process of opening Nofrill accounts and
  achieved 100 financial inclusion.
• We have SLBC responsibility in Kerala state.
  Kerala was the first state to declare Total
  financial inclusion on 24.12.2007.

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ICT SOLUTIONS FOR FINANCIAL INCLUSION

• SMART CARD PROJECT
• To extend the out reach, the Bank has started a
  pilot project for implementation of Smart Cards
  used in Bio Metric Handheld Machine, engaging
  Business Correspondent.
• The pilot project was launched in two villages
  near Bangalore.
• Bank is providing savings Bank operation to the
  SB/Nofrill account holders in these two villages.

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ICT SOLUTIONS FOR FINANCIAL INCLUSION

• The Smart Card issued by Canara Bank is called
  'Canara Vikas'.
• The card is also provided with the magnetic
  stripes on the Back of it. It enables the smart
  card holders to operate their account in
  Biometric ATM machine also.
• This is a unique feature in our Smart Card.

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ICT SOLUTIONS FOR FINANCIAL INCLUSION
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ICT SOLUTIONS FOR FINANCIAL INCLUSION

• Smart Card is used in Bio Metric Hand held
  machine for deposit and withdrawal of funds from
  SB accounts.
• It bears the name and address of the account
  holder.
• The account number and the date of birth of the
  customer is also printed on the card.
• It is a contact less card with 4KB to 32KB
  capacity.
• It holds 10-16 applications like SB, RD, Loan
  account, Health Insurance. Life insurance,
  Vehicle insurance etc.
• It can hold latest 10 Transactions in the
  account.
• It bears magnetic strips on the backside, which
  enables the card holder to operate the account
  through the Bio metric ATM.
• This card is used in Bio metric hand held
  machine, operated by the Business
  Correspondent/Customer Service Provider.

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ICT SOLUTIONS FOR FINANCIAL INCLUSION

• BIO METRIC HANDHELD MACHINE

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ICT SOLUTIONS FOR FINANCIAL INCLUSION

• The bio metric handheld machine is 10" X 5" X 3"
  in size (at present).
• It consists of display system, Key Board, Finger
  Print reader and a printer.
• The Smart card is swiped or inserted, to allow
  the customer to operate the account.
• The key board is used for operating the machine.
• Finger print reader is used for identification of
  the customer.
• Display system /monitor show the details of the
  account, amount debited/credited to the account.

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ICT SOLUTIONS FOR FINANCIAL INCLUSION

• The machine is voice enabled, means, whenever the
  amount is debited/credited to the account of the
  customer the machine confirms the amount by
  voice in local language.
• The machine updates the card with the latest
  transaction.
• Latest ten transactions are saved in the card.

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ICT SOLUTIONS FOR FINANCIAL INCLUSION

• BENEFIT OF THE SMART CARDS TO THE ACCOUNT
  HOLDERS
• Withdrawal of money from SB account/payment of
  pension/wages at doorsteps or in the villages in
  a transparent manner.
• Timely payment of pension/wages.
• Saving of Man days for visiting the post
  office/Banks.
• Saving of Transport cost/Out of pocket expenses
• Operation of the account at leisure time.
• Saving of precious time of the customer.
• Operation of the account through Bio metric
  methods which is more secured than the PIN.

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ICT SOLUTIONS FOR FINANCIAL INCLUSION

• BENEFIT TO THE BANK BY THE USE OF SMART
  CARDS.
• Social objective of the Bank fulfilled.
• No need of giving service at the counter to large
  number of beneficiaries.
• Correct identification with the use of Biometric
  methods.
• Service at the doorsteps by outsourcing BC.
• Future customers for the bank as a part of
  financial inclusion.
• Transaction s in the Bio metric handheld machine
  is uploaded to the branch system using mobile
  phone through the server of the Technology
  Provider/CBS server.
• Checking the malpractices at ground level.
• COST ASPECT
• The cost of the Machine is approximately
  Rs.25000/-
• Cost of Smart Card Rs.125/ Approximately (4 KB
  Card)
• The cost includes enrollment charges.

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ICT SOLUTIONS FOR FINANCIAL INCLUSION

• BIOMETRIC VOICE ENABLED ATM
• Bank has installed Bio metric Voice enabled ATM
  in nine Rural/Semi Urban locations across the
  country.
• Even the illiterate Customers in rural areas can
  have access to their account and withdraw money.
• Even the smart cards used in Bio metric Hand held
  machines can be used to draw money from the Bio
  metric Hand held Machines.
• The colour codes provided in the Bio metric ATM
  machines will guide the illiterate customers to
  withdraw money using ATM/Smart Cards.

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ICT SOLUTIONS FOR FINANCIAL INCLUSION

• MOBILE BIO METRIC VOICE ENABLED ATM
• Bank has also launched Mobile Bio metric Voice
  enabled ATM at Bangalore , which will be making
  available the ATM facilities to the ATM/Smart
  Card holders at predetermined places at Bangalore.

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INITIATIVES BY THE BANK FOR INCREASINGTHE
AWARENESS OF THE RURAL MASSES.

• FARMERW CLUBS
• Bank has formed 262 new farmers' clubs on a
  single day, during the year.
• Cumulatively the Bank has formed 1052 Farmers'
  clubs.
• These clubs disseminate information about the
  Financial products of our Bank to the rural
  people.
• The clubs also give the information about
  advanced technology in agriculture and
  improvement in production.

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INITIATIVES BY THE BANK FOR INCREASING THE
AWARENESS OF THE RURAL MASSES.

• CANARA GRAMINA VIKAS VAHINI
• Bank has launched Canara Gramina Vikas Vahini
  vehicles in 50 districts all over the country.
  These vehicles are accompanied by an AEO/Officer
  well versed in agricultural advances.
• The vehicle provided in each district will be
  used to visit the branches in the district.
• The officer accompanying the vehicle will give
  the information about the banking products and
  services to the rural people.
• The vehicle is provided with the account opening
  forms and the brochures of various schemes of our
  Bank for the benefit of the rural people.

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INITIATIVES BY THE BANK FOR INCREASING THE
AWARENESS OF THE RURAL MASSES.

• Financial literacy Booklets
• Bank has also come out with two Financial
  Literacy booklets, namely 'Money' and 'Savings'.
  The booklets are provided to all our lead Banks ,
  Rural Branches and Farmers' clubs to make them
  available to rural people.
• Financial literacy and Credit Counseling
  centers
• Bank has set up FLCCs in three lead districts
  namely Kolar, Chitradurga and Chikkaballapura to
  give financial education

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ICT SOLUTIONS FOR FINANCIAL INCLUSION

• THANK YOU