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Frugal Innovations for Financial Inclusion (FI4FI)

Frugal Innovations for Financial Inclusion (FI4FI). ‘Knowledge Banking’ approach based on expertise in Microfinance and Social Enterprises sector Effectively Leverage ‘Technology Edge’ with Frugal Innovations Identification of niche opportunities

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Frugal Innovations for Financial Inclusion (FI4FI)

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  1. FrugalInnovations for Financial Inclusion (FI4FI) • ‘Knowledge Banking’ approach based on expertise in Microfinance and Social Enterprises sector • Effectively Leverage ‘Technology Edge’ with Frugal Innovations • Identification of niche opportunities • Financial Inclusion to compliment branch viability • Extensive use of Business Facilitators (BF) /Business Correspondents (BC) Pyasa Kauva: The Famous Frugal Innovator

  2. YES Livelihood Enhancement Action Program (YES LEAP) • Lending to Self Help Group (SHG) by leveragingBusiness Correspondent (BC) model • SHG Saving account & individual saving account with the Bank • Over 14,000 SHGs, 350 Cr disbursement, 25 BCs, 10 states

  3. YES Sahaj Micro ATM • Low end mobile handset & Bluetooth thermal printer constitute the ‘World’s Cheapest Micro ATM’ i.e YES Sahaj • Transactions such as saving, withdrawal & remittance origination facility with triple authentication at customer doorstep • Real time tracking of transaction • Over 2.5 lakh transactions with an aggregate value of Rs 80 Cr

  4. YES Money -Domestic Remittance Service • Simple, Secure & Cost effective way of sending hard earned money home • Walk into any YES Money outlet and send money to any account instantly(IMPS)/within few hours(NEFT) • Integration of existing technologies and network of BC outlets & Yes Bank • 10 lakh + Customers – Over 40 lakh transactions, value of over Rs. 2000 Crores conducted, – 12 BC - 13,000 BC Agents

  5. Special Recognitions

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