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Project

Synopsys
Bank on Wheels
for Rural Finanacial
Inclusion
Manmad Urban Co-op. Bank Ltd.
guide: Praveen Nahar
student: Amit A. Chordiya
National Institute of Design, 2012
bank:

Preface
As per NIDs curriculum, all final semester students are
required to undertake a diploma project which is a full
scale design project in the industry. This diploma project
comprises a comprehensive project based on a predetermined
design brief. The diploma project, which is expected to
be of 6 months duration, is a complete demonstration of
independent client service by the student under the guidance
of a faculty member from NID. The student is expected to
render a professional design assignment with application and
implementation capabilities. The project brief is approved
by the students faculty guide. While doing the project, the
student is also required to make at least 3 guide visits during
the course of the project; wherein, the guide reviews the
progress of work. On successful completion of the work, the
students performance on the project is critically evaluated by
a jury comprising NID faculty members and external experts
for the award of the NIDs Professional Education Programme
Diploma upon the student.
This diploma project document is a complete account of
project methodology, process and outcomes. This document
outlines the efforts made with objectives of providing
access of financial services to maximum number of people
(in Manamd* region) with a well-designed bank on
wheels for a better customer experience and setting up a
benchmark for scaling up similar initiatives in other regions
(to address the last mile problem) as well. Though the
project implementation could not be demonstrated (due to
unavoidable circumstances); complete execution plan for
the operation of mobile bank in villages nearby Manmad,
design of custom interior of the mobile bank, its exterior and
communication design intended to achieve rural financial
inclusion for the facilitator bank (which is a scheduled
commercial bank) are documented here.

* Manamd is 3rd largest town in Nasik District (India) with


population around 125thousand people
PROJECT SYNOPSYS: MOBILE BANK FOR RURAL FINANCIAL INCLUSION

by - AMIT A. CHORDIYA

Guide - PRAVEEN NAHAR

NATIONAL INSTITUTE OF DESIGN

About Nid
The National Institute of Design (NID) is internationally
acclaimed as one of the foremost multi-disciplinary
institutions in the field of design education and research. The
institute functions as an autonomous institute of national
importance under the department of Industrial Policy &
Promotion, Ministry of Commerce & Industry, Government of
India. NID is recognized by the Dept. of Scientific & Industrial
Research (DSIR) as a scientific and industrial design research
organization. The BusinessWeek, USA has listed NID as one of
the top 25 European & Asian programmes in the world.
On the basis of Charles and Ray Eamess remarkable
document The India Report NID was set up in 1961 and is
known for its pursuit of design excellence to make Design
Enabled India. NID offers professional education programmes
at Undergraduate and Post Graduate level with five faculty
streams viz. Industrial Design, Communication Design, Textile,
Apparel & Lifestyle Design, IT Integrated (Experiential) Design
and Interdisciplinary Design Studies.
NIDs vision is to emerge as a global leader in Design
Education and Research and become a torchbearer for
innovative design directions in the industry, commerce and
development sectors. NIDs trans-disciplinary environment
consisting of 17 diverse design domains helps in creating
innovative and holistic ecosystem for design learning. NIDs
graduates have made a mark in key sectors of commerce,
industry and social development by taking role of catalysts
and through thought leadership.

PROJECT SYNOPSYS: BANK ON WHEELS FOR RURAL FINANCIAL INCLUSION

by - AMIT A. CHORDIYA

Guide - PRAVEEN NAHAR

NATIONAL INSTITUTE OF DESIGN

Facilitator Bank: Manamd Urban Co-Op. Bank Ltd.


Year of establishment 1999-2000

Functions under
Co-operative Societies Act, 1965 and

Banking Regulations Act 1945
Regulated by

Reserve Bank of India

License no

Type of bank

NSK/NSK/BNK/O 112/99
UBD/MUM [MAH] 0014 P/1999-2000

No. of branches

Scheduled Commercial Bank

Address
4,5 Balwant Chambers,
Manke Compound,
Manamd 423104
dist- Nahik, India
Services

Banking and finance

Chairman

Mr. Sanjay Wadnere

Manager

Mr. Khadtale

No. of board members 18


No. Staff members

PROJECT SYNOPSYS: MOBILE BANK FOR RURAL FINANCIAL INCLUSION

by - AMIT A. CHORDIYA

Guide - PRAVEEN NAHAR

NATIONAL INSTITUTE OF DESIGN

Background : Rural Financial Inclusion in India


a
country .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. & 3 megacities
380
urban conglomerates .. .. .. .. .. .. .. .. .. .. .. .. .. & 640 districts
5767 tehsils & 7742 towns

6,38,000 villages
1,19,982 villages said to have banked .. .. .. ..
37,471
rural branches .. .. .. .. .. .. .. .. .. .. .. .. .. ..

/ 6,38,000 villages

/ 1,19,982 villages said to have banked


rural branches .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. / total 99,242 branches & 1,39,144 rural post

37,471

offices ( / 1,55,516 post offices)

74,24,90,639 rural population .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. / 1,02,87,37,436 total population

51,97,43,447 financially excluded rural people .. / 74,24,90,639 rural & 1,02,87,37,436


Indian population
51,97,43,447

financially excluded rural people .. .. .. .. .. .. .. /

61,72,42,462 financially
excluded Indians

14,50,00,00

financially excluded households .. .. .. .. .. .. .. / 20,59,00,000 households in India

(highest in the world)

21,38,00,000 rural savings accounts .. .. .. .. .. .. .. .. .. .. .. .. .. / 37,35,00,000 savings accounts with


SCBs; accounting for 60.11% of GDP

38.8

rural savings account / 100 adults compared to 75.2 urban savings


accounts / 100 adults
5,31,00,000
rural credit accounts .. .. .. .. .. .. .. .. .. .. .. .. .. .. / 9,44,00,000 credit accounts with SCBs;
accounting for 43.62% of GDP
9.6
rural credit accounts / 100 adults .. .. .. .. .. .. .. compared to 12.4 urban credit
accounts / 100 adults
10.6
8.9
13,300

branches per 1,00,000 adult persons& 30.4 branches / 1000 km2


ATMs per 1,00,000 adult persons & 25.4 ATMs / 1000 km2
people per branch

10%
18%

Indian population has access to Insurance

13,85,00,000 no frill accounts

have debit cards .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. & only 2% have credit cards


Exclusion is staggering whichever parameter one chooses to look at !

References
All India Debt and Investment Survey (AIDIS) released once in a decade by the National Sample Survey Organisation (NSSO)6 and various
banking data brought out by the Reserve Bank from time to time. The analysis is also supplemented by the data based on the surveys
conducted by NCAER-Max New York Life and India Invest Market Solutions (IIMS).
Image Credits - http://www.babusofindia.com http://indiashaining.blogspot.in
PROJECT SYNOPSYS: BANK ON WHEELS FOR RURAL FINANCIAL INCLUSION

by - AMIT A. CHORDIYA

Guide - PRAVEEN NAHAR

NATIONAL INSTITUTE OF DESIGN

Abstract
This project is about a critical dimension of financial
in/exclusion Access. Stating simply; it is about
A well designed Bank
On wheels for better customer experience

S. H. no. 10

That will go to 23 villages nearby a central town, Manmad

N . H. 3

no. 8
S. H.

Has area of 38.1

ft

Requires monthly running cost of INR 27,180


Can server up to 33,350 adults & 50,512

people

Requires capital investment of INR 5, 87,188 i.e. about INR 18


per adult
Has potential debit opportunity of INR 87, 18,500 per yr &
credit opportunity of INR 82, 01,000 per yr.
(

n
S. H.

If scaled up for 798 towns like Manmad (with population


more than 50,000) across India
Just by covering 18,354 villages out of 2, 29,150 villages
(with population more than 1000)
Can serve up to 4,03,08,576 rural people out of
51, 97, 43,447 financially Excluded Rural Indians

o. 2

S. H
.
no. 24

no. 8
S. H.

The project emphasises the fact that financial inclusion is not


about giving hand-outs to anyone, rather it is about getting
people to help themselves.

S. H. no. 10

The project was facilitated by Manmad Urban Co-operative


Bank (belongs to Manmad - my hometown in Nashik district),
which was looking forward to expand its reach with bank on
wheels. Intriguing field research followed by primary research
just propounded the need for Rural Financial Inclusion in
5, 18,018 unbanked villages (out of 6, 38,000) in India.
Financial inclusion is the road that India needs to travel
and write golden chapters of human endeavour & social
development.

The design process followed under the guidance of my guide;


yielded into,

Bank on wheels - sensitive to cultural factors


and semantic aspects
Bank on wheels that

has robust safety and


security measures clubbed with design for assembly
and maintenance

Bank on wheels whose

Identity design is morphed


into vehicles exterior and interior design; and reflects
co-operation, dynamics and trustworthiness.
Apart from teaching me with netegrities of banking, key
learning from the project were working in real life scenario,
within cost and space constraints.
Banks need to have both model and motivation to
convert rural financial inclusion into sustainable business
opportunities. This project is an attempt to put forward the
same.

n
S. H.

o. 25

Thank U
Amit A. Chordiya

GDPD, Product Design,


National Institute of Design
amitchordiya@gmail.com
amit_c@nid.edu
+91 9898 1423 98