³ I n n o v a t i o n : T h e S u r v i v a l M a n t r a f o r G r a my a B a n k s ´

(An empirical analysis of innovative initiatives of Gramya Banks in Odisha)

Co- Authors:
Dr. Ipseeta Satpathy, D.Litt. Associate Professor School of Management KIIT University, Bhubaneswar, Odisha Hello: 09937234890, Mail: ipseeta@ksom.ac.in & Dr. B.C.M.Patnaik, Associate Professor School of Management KIIT University, Bhubaneswar, Odisha Hello: 09338809557, Mail: bcmpatnaik@gmail.com, bcmpatnaik@ksom.ac.in

&
Prakash Kumar Pradhan Ph. D Scholar School of Management KIIT University, Bhubaneswar, Odisha Hello: 09090189879, Mail: mail2icm@gmail.com

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complicated the environment in which Gramya Banks able to handle with new challenges of innovative technologies. Innovation is having no meaning unless the benefit of it is reached to the common man. Securitization and more importantly IT based payment and settlement system. Negotiable Order of Withdrawal (NOW) Account.³ I n n o v a t i o n : T h e S u r v i v a l M a n t r a f o r G r a my a B a n k s ´ (An empirical analysis of innovative initiatives of Gramya Banks in Odisha) Abstract It is a stylized fact in the fields of economic growth theory and economic history that innovation is the engine of economic growth. Eurodollars. Commercial Papers. Mortgages. Money Market. ATMs. So the Gramya Banks has only one option and is to keep pace with the technological development and upgrade them accordingly. Certificate of Deposits. Like the technological innovations. Automatic Transfer Accounts. Considering this. Gramya Banks (GBs). particularly with regard to fully leverage the available technology for rendering better banking services to the public at large. bringing about a greater improvement in the economic performance. Rapid financial innovation as a phenomenon in the past decades has change the array of banking services available to the customers but at the same time. the present paper tries to explore the scope for improvement for the survival of the Gramya Banks. Mutual Funds. Total Score. Key words: Innovation. Phone Banking. Some of the areas where the Regional Rural Banks or Gramya Banks face certain challenges and hence need to work further to achieve desire results. innovations in the banking sector are expected to change all aspects of economic activity. Banker Acceptances. Derivatives. Very quickly we have seen the introduction of Debit Cards. Ideal Score and Least score 2 . Overnight Repurchase Agreements.

By developing a more sophisticated understanding of the process and outcome of innovations. improve efficiency.Introduction In order to meet the global challenge. Types of Innovation Business Innovation: Business innovation involves a wide spectrum of original concepts. however. the organization and their people need to evolve innovation ± based strategies as well to make modification in such strategies contentiously. new forms of stakeholder participation. new forms of customer service and customer partnership. All changes are not innovations. new distribution method. and increase employee job satisfaction.that benefits both the customer and sponsoring company. raise productivity. The best companies maintain roadmaps that define the next technologies they will pursue and the requisite timing of each. all innovations in the organization terms are changes. including development of new business models. transport and finance. and create new markets and new customer groups for the sponsoring company. It is to help a company develop new value added services. add additional value. Product/ services Innovation: Product/ service innovation is the result of bringing to life a new way to solve the customer¶s problem-through a new product or service department. business application of technology and communications. new management techniques. In a work organization. reduces costs. An innovation is the process of creative and noble idea to put it into some practical use and an innovation in a work organization implies change in status quo. it may be better understood how organizations can evolve to meet the challenges or change for fulfilling the expectations of internal and external stake holders. those having a stake in the innovation may benefit while others who have a great stake in the status quo may feel hurt. and create new market segments / categories. environmental efficiency. undesired or unintended changes or changes involving nothing new do not constitute innovations. Technological Innovation: Technological innovation covers innovation derived from research and technology developments that are independent of the product and service initiative. These technology road maps are matched to their product roadmaps to ensure that two are synchronized. It only by bringing about innovative change that many human and organizational problems can be overcome. they also delivers enhanced product or service value to the customer. organizational innovation. 3 . Innovation promises strategies for meeting the challenge of the change in work organization. Strategy Innovation: Strategy innovation is about challenging existing industry methods of creating customer value in order to meet newly emerging customer needs. enter new markets. Process Innovation: Process innovation increase bottom-line profitability.

reduces risks or provides an improved product/ services/instrument that better satisfies customer. IT data bases have allowed gathering the financial /crediting histories of people and offering them various innovative banking products as per their need. 1976 with an objective to ensure sufficient institutional credit for agriculture and other rural sectors. customer partnership. shares. manufacturing. can improve the competitiveness. Precisely. high speed computer networking has allowed online trading. The last decade has witnessed a tremendous technological improvement in computer chips. Similarly. payment and settlement. or positive action to involve all employees in order to make work organization a collective resource for innovation). agricultural labourers and rural artisans. hardware and software and all these have important bearing one banking innovation. trading means of payment and settlements.) offered by banks cheaper and more available for customers and to increase their quality. new forms of organization and more developed and complete financial market. knowledge management. and also as the emergence of new financial instruments and services. derivative for risk management.Organizational Innovation: Organizational innovation reflects the recognition that new ways of organizing work areas such as work-force management ( such as employee empowerment. The area of operation of Gramya Banks is limited to the areas as notified by Government of India covering one or more districts in the State. The Issued capital of a Gramya Banks is shared by the owners in the proportion of 50: 15: 35 respectively. Banking innovation Banking innovation can be considered as the technological advances that facilitate access to information. deposits. Gramya Banks Regional Rural Banks or Gramya Banks were established under the provisions of an Ordinance promulgated on the 26th September 1975 and the RRB Act. Also. new people partnership. finance. 4 . The Gramya Banks are jointly owned by Government of India. Banking innovation thus represents something new that reduces costs. etc. which is a pre-condition for the long-run sustainable growth of an emerging market economy like India. The aim of banking innovation is to make different services ( loans. distribution. the high speed modeling and computational efficiency of the computer has enabled the financial engineers designing complex and profitable financial products. The Gramya Banks mobilize financial resources from rural/ semi-urban areas and grant loans and advances mostly to small and marginal farmers. Presentational innovation: Presentational innovation is comprehensive term that covers innovation in areas such as design and marketing. currency exchange payment etc. mutual fund debt instruments. value chain management. This also includes the business model innovation. banking innovation would not have prospered without information technology. the concerned State Government and Sponsor Banks.

Table-1: List of Regional Rural Banks as on 1 st January 2010 Sl No.cost banking principles. Name of RRB 1 2 3 4 5 6 7 8 9 Chaitanya Govdvari Gramya Bank Saptagiri Gameen Bank Deccan Grameen Bank Name of Sponsored Bank Andhra Bank Indian Bank State Bank of Hyderabad State Andhra Pradesh(5) Do Do Do Do Arunachal Pradesh (1) Assam (2) Do Bihar (4) Do Do Do Chhatisgarh (3) Do Do Gujrat (3) Do Do Haryana (2) Do Himachal Pradesh (2) Do J &K (2) Do Jharkhand (2) Jharkhand Andhra Pradesh Grameen Vikas Bank SBI Andhra Pragati Grameen Bank Arunachal Pradesh Rural Bank Langpi Rural Bank Assam Gramin Vikas Bank Uttar Bihar Gramin Bank Syndicate Bank SBI SBI United Bank of India Central Bank of India PNB SBI UCO Bank Central Bank of India Dena Bank SBI Bank of Baroda Dena Bank State Bank of Saurashtra PNB Syndicate Bank PNB SBI SBI J&K Bank Ltd. ability to mobilization deposits. commerce. artisans and small facilities. The RRBs have the status of scheduled commercial banks are set up under low. Bank of India SBI 10 Madhya Bihar Gramin Bank 11 Samastipur Krushi Gramin Bank 12 Bihar Krushi Gramin Bank 13 Surguja Krushi Gramin Bank 14 Durg-Rajnandgaon Gramin Bank 15 Chhtisgarh Gramin Bank 16 Baroda Gujrat Gramin Bank 17 Dena Gujrat Gramin Bank 18 Saurashtra Gramin Bank 19 Haryana Gramin Bank 20 Gurgaon Gramin Bank 21 Himachal Gramin Bank 22 Parvatiya Gramin Bank 23 Ellaqui Dehati Bank 24 J&K Gramin Bank 25 Jharkhand Gramin Bank 26 Vananchal Gramin Bank 5 . agriculture entrepreneurs or matter connected there with and incidental there to ³ Moreover Gramya Banks were meant to combine the local feel and familiarity with several problems which the co-operatives possess and the degree of business acquisition. particularly the small and marginal farmers. industry and other labourer. trade.Objectives of Gramya Banks According to the Act. access to central money markets and modernized outlook which the commercial banks´. Gramya Banks are set up mainly with a view to developing rural economy by providing for the purpose of development of agriculture.

27 Pragathi Gramin Bank 28 Chickmagalur Gramin Bank 29 Krishna Gramin Bank 30 Cauvery-Kalpatharu Gramin Bank 31 Karnataka Vikas Gramin Bank 32 Visveswaraya Gramin Bank 33 South Malbar Gramin Bank 34 North Malbar Gramin Bank 35 Sharada Gramin Bank 36 Jhabua-Dhar Krushi Gramin Bank 37 Narmada-Malwa Gramin Bank Canara Bank Corporation Bank SBI State Bank of Mysore Syndicate Bank Vijaya Bank Canara Bank Syndicate Bank Allhabad Bank Bank of Baroda Bank of India Karnataka (6) Do Do Do Do Do Kerala (2) Do Madhya Pradesh (8) Do Do Do Do Do Do Do Maharastra (3) Do Do Manipur (1) Meghalaya (1) Mizoram (1) Nagaland (1) 38 Satrupa Narmada Krishi Gramin Bank Central Bank of India 39 Vidisha-Bhopal Krishi Gramin Bank State Bank of Indore 40 Madhya Bharat Gramin Bank 41 Mahakaushal Krishi Gramin Bank 42 Rewa-Sidhi Gramin Bank 43 Maharastra Gramin Bank 44 Wainganga Krishna Gramin Bank 45 Vidharbha Krishi Gramin Bank 46 Manipur Rural Bank 47 Meghalaya Rural Bank 48 Mizoram Rural Bank 49 Nagaland Rural Bank 50 Rushikulya Gramin Bank 51 Baitrani Gramya Bank 52 Neelachal Gramin Bank 53 Utkal Gramya Bank 54 Kalinga Gramya Bank 55 Pudvai Bharthiar Gramya Bank 56 Sutlej Gramin Bank 57 Malwa Gramin Bank 58 Punjab Gramin Bank 59 Baroda Raj Gramin Bank 60 Mewar Anch Gramin Bank 61 Hadoti Krishi Gramin Bank 62 MGB Gramin Bank 63 Jaipur-Thar Gramin Bank 64 Rajastan Gramin Bank SBI UCO Bank Union Bank of India Bank of Maharastra Bank of Maharastra Central Bank of India United Bank of India SBI SBI SBI Andhra Bank Bank of India IOB SBI UCO Bank Indian Bank Punjab & Sind Bank State Bank of Patiala PNB Bank of Baroda Bank of Rajastan Central Bank of India Odisha (5) Do Do Do Do Pondichery (1) Punjab (3) Do Do Rajastan (6) Do Do State Bank of Bikaner & Jaipur Do UCO Bank PNB Do Do 6 .

920 ( as per Indian census survey-2001) . Sex Ratio 972 literacy rate of 63. South. Odisha is an Eastern Indian state.65 Pallavan Grama Bank 66 Pandyan Gr Bank 67 Tripura Gramin Bank 68 Lucknow Kishan Gramin Bank 69 Triveni Kishan Gramin Bank 70 Baroda UP Gr. West ±Chhattisgarh and Jharkhand.55.West Bengal having a total area of 1.Andhra Pradesh. and administrative settlement commonness. the state boundaries are on the Bay of Bengal Sea. North. linguistic boundary. 7 . population density 236 per Square Kilometers.Bank 71 Aryavart Gramin Bank 72 Shryas Gramin Bank 73 Ballia-Etawah Gramin Bank 74 Sarva UP Gramin Bank 75 Purvanchal Gramin Bank 76 Prathama Bank 77 Kashi Gomti Sa myut Gramin Bank 78 Kshetriya Kisan Gramin Bank Indian Bank IOB United Bank of India Allhabad Bank Do Bank of Baroda Bank of India Canara Bank Central Bank of India Punjab National Bank State Bank of India Syndicate Bank Union Bank of India UP.State Coop Bank Tamil Nadu (2) Do Tripura UP (12) Do Do Do Do Do Do Do Do Do 79 Ninital.Almora Kishan Gramin Bank Bank of Baroda 80 Uttaranchal Gramin Bank 81 Uttar Banga Kisan Gramin Bank 82 Bangiya Gramin Vikash Bank 83 Paschim Banga Gramin Bank SBI Central Bank of India United Bank of India UCO Bank Uttarakhand (2) Do West Begal Do Do Source: The Indian Banker.61%. The state is comprising of 30 districts (Administrative Divisions) and 58 Sub-Divisions.  The period of study was October 2010 to 31 st December 2010 Research Universe and Methodology With reference to the selection of the research universe the state of Odisha has been selected with specifications to the compulsions of the geographical territory.707 Square Kilometers with total population of 36.706. January 2010 Objective of the study  To study the various innovative initiates taken by the Gramya Banks  To study the access of the benefits of the innovative initiative by the customers Limitation of the study  The study is limited to selected Gramya bank customers in the state of Odisha only  The sample size is limited and it may not give the opinion all the customers.

Kendrapara District 20 Banthapalli ± Ganjam District Singla 20 Balasore District 20 Respondents¶ perception with regard to innovative initiatives of Gramya Banks To measure the perception level of the participants with regard to innovative initiatives of Gramya Banks twenty variables identified as knowledge about innovation.+2. Table-1: Areas under Study Rural areas Area under study Urban areas Questionna Respons Area under ire served Jaanla . communication and transport provision to link GBs. cultural.Khurda District 25 Mendhasala± Khurda District Ghatagan . out of which 136 are female respondents and rest are male respondents. The response rate was 78. knowledge of ATM. economic.67%. 8 . Calculation of respondents¶ perception: Ideal and Least scores Ideal scores are calculated by multiplying the number of respondents in each category with (+3) and product with total number of attributes. lingual and settlement wise. automatic transfer account and dealing with the banking products.+1. ³ Disagree´ and ³ Strongly disagree´ respectively. training initiative provided to the entrepreneurs or famers. debit card provision. visit of business correspondents to area. Final scores for each feature are calculated by multiplying the number of response by the weights of the corresponding response. improvement in feedback system. geographical. phone banking system. mobile banking services. In this regard we have been assigned as +3.Keonjhar District 25 20 Chandol . knowledge of financial inclusion. Least scores calculated by multiplying the number of respondents in each category with (-1) and the product with number of attributes in the questionnaires. visit of officials. Out of 450 questionnaires served 354 responded. ATM facility of the bank. ³ Agree´. support of institutional finance.0 and -1 for the responses of the respondents ³ Strongly agree´. NOW A/c. obstacle of wrong location. availability of liquidity. financial literacy and credit counseling center in the area.Khurda District 20 e 16 21 22 23 16 17 17 study Rourkela Cuttack Balasore Bhubaneswar Berhampur Semi-urban areas Questionna Respon Area ire served 30 30 30 30 30 se 22 20 24 22 21 study Koraput Padampur Athagarh Bhanjanagar Khurada Road Anugul Aska Hinjili Total 150 132 Total 150 109 Total underQuestionn Response aire served 15 15 15 15 25 20 20 25 150 11 13 9 12 20 16 15 17 113 Sundarapada . ability to mobilize the savings. ³ Neutral.Sampling plan In support to the objective of the research there is a primary research through questionnaire administration method in the field through stratified random sampling method covering the state through regional.

Table-2: Ideal score and least scores of respondents Category Equation 78 x20x3 54x20x3 67x20x3 42x20x3 73x20x3 40x20x3 Ideal score 4680 3240 4020 2520 4380 2400 Equation 78x20x-1 54x20x-1 67x20x-1 42x20x-1 73x20x-1 40x20x-1 Least score -1560 -1080 -1340 -840 -1460 -800 Rural male Rural female Urban male Urban female Semi-urban male Semi-urban female Findings of the study Table-3: Response of the respondents of GBs for innovative initiatives Attributes Aggregate Score Rural respondents Urban respondents Semi-urban respondents Male Do you heard about innovation in GBs? Do you heard about financial inclusion? Do the business correspondents visit your houses/ area? Do you have financial literacy and credit counseling center which are run by banks? Do you have heard about ATM? Do your bank having ATM facility? Do your bank having mobile banking system? Does your bank provide training to the entrepreneurs or farmers? Is there any improvement in communication and transport system to link the GBs? Is there any improvement in feedback system like linkage between bank credit and use of it in raising productivity? Do the GBs whatever limit innovative effort been able to mobilize the savings in rural population? Do you believe that wrong location of GBs is the obstacle for implementation of innovative initiatives? Do you agree that institutional finance is adequate and there is no need for dependence of money lenders? Do the bank officials visit the rural area to explain various schemes? Do the GBs having sufficient liquidity to cater the needs of the customer? Do you having phone banking facility? -31 -7 -24 -20 -18 -12 42 33 102 84 80 18 96 72 89 95 126 67 79 18 3 51 82 49 85 58 16 34 70 21 29 22 14 33 92 14 20 21 -2 29 98 32 68 17 25 61 74 61 -17 -11 102 -8 -12 61 -25 -21 59 -6 -16 86 -13 15 100 -13 -5 94 122 103 77 83 74 69 91 100 58 23 Female 45 55 56 38 Male 69 79 12 72 Female 57 52 44 31 Male 117 64 72 90 Female 40 82 61 41 9 .

806. However in no case the total score reached the least score.98% of ideal score followed by 29.47) 4380 -1460 73 13 68 707 (29. rural female. 4020. 3240. urban female. C. B.47% for the semi-urban male participants. 1246 and 707.   -13 13 30 41 25 10 21 17 32 19 1 6 20 80 956 (20. It is very much noticeable that in case of female participants in all the demography the perception level is higher as compared to their male participants. E & F Response of the respondents of GBs for innovative initiatives 5000 4000 3000 Total Score Ideal Score Least Score 0 Male -1000 -2000 Rural respondents Urban respondents Semi-urban respondents Female Male Female Male Female 2000 1000 Interpretation In the above table.79) 3240 -1080 54 0 69 624 (15.Do your bank having debit card provi ion? Do your bank having Negotiable Order of Withdrawal (NOW) A/C Do your bank having Automatic Transfer Account? Do your bank deals with all the banking products? Tot l £¢ ¡ ore Ideal Score Least Score No. of respondents Source: Annexure A. Innovation is no meaning unless the benefits reached to the ultimate people. D.52) 4020 -1340 67 14 56 806 (31. 4380 and 2400 against this the total scores are 956.46% in case of semi-urban females and 28. 706 . 2520.43) 4680 -1560 78 49 7 706 (21. the ideal scores for rural male. 624. This shows whatever innovative initiatives under taken by the GBs are not up to the expectation and not reached to the mass.98) 2520 -840 42 53 19 1246 (28. urban male. semi-urban male and female are 4680.46) 2400 -800 40 10 . In our findings the total score is higher in case of urban female respondents with 31.

Gramya Banks have also performed better in terms of providing loans to small and retail traders and petty non-farm rural activities. N. Gramya Banks should really be strengthened and provided with more resources with which they can undertake more of these important activities. and then only innovation will have some purposeful meaning. In recent years. They should be encouraged to develop more sophisticated methods of credit delivery to meet the changing needs of farming. References  Bhatnagar. Here the role of employees. 90(10).´ TAMIL NADU JOURNAL OF COOPERATION. 469. 2001(April) 10-15.  ³Innovations in rural credit lessons from Indonesia. ³Model for Managing Innovation in Banks. ³Innovations in Commercial Banking and Finance in India. BUSINESS INDIA. 1990(Dec) 603-617.´EXECUTIVE CAPSULE.  ATMs online banking: Innovation on the air media: Networking India travel: Are emerald forever gemstones: First off the blocks telephones. Breut and Finegold. Panchayat raj institutions and the banks operating in rural areas. 7(12).Concluding Note Gramya Banks performance in respect of some important indicators was certainly better than that of commercial banks or even cooperatives. They should involve themselves for the success of innovative initiatives and work hard for the financial literacy of the people. 14(4).´ BANKING FINANCE. ³Bank marketing: Recent trends in product innovations. 1986(Oct Dec) 321-327. 29(12).´BUSINESS INDIA. Deepti. 1994(Dec) 5-7. 1999(Jan) 34-44. 11(4).  ³Banking on innovation. ³Adding value in banking HR innovations.  Goiporia M. 1997(May-June) 21-26.´ VIKALPA.´STATE BANK OF INDIA MONTHLY REVIEW. they have taken a leading role in financing Self-Help Groups (SHGs) and other micro-credit institutions and linking such groups with the formal credit sector.´BANKING FINANCE. Innovation is having no meaning unless the benefit of it is reached to the common man. David. 529. there should be greater coordination between district planning authorities. 4(3). and most of all. 1996(Feb 26) 149.  Toor N S. 1998(June 15) 29 33. 11 . Only then will the Gramya Banks can fulfill the promise that is so essential for rural development.  Kettner.  ³Human resources management in state cooperative banks central cooperative banks and primary agricultural cooperative society¶s challenges and innovations. intellectual people is also important.

Pooja and Singh.  Mohanty.  Adhikari. Rajendra Financial innovation through securitization. 2005(March) 577-596. 2(3). 2007(Nov) 126131. 2004(Nov) 887-889. R I S Technology and Resultant Innovations in Customer Service and Products.´BUSINESS TODAY. 1(3). 2007(April-June) 40. Preeti Creativity and Innovations in Retail Banking ± A Comparative Analysis of Financial Products Offered By ICICI and HDFC Bank. A V Financial innovation institutional support for tribal development in Andhra Pradesh Girijan Vikas Kendra of union bank. 2002(Nov) 104 -113. PROFESSIONAL BANKER. P Micro credit innovations a study based on microcredit women empowerment and linking of self help groups with cooperative banks in two districts in Tamil Nadu. Rajni and Hiro. NATIONAL BANK NEWS REVIEW.  Pathak P A and Sardesai. Anand ³I for innovation Banking.  Puyalvannan.  Prasad. BANK QUEST (FORMERLY: QUARTERLY JOURNAL OF THE INDIAN INSTITUTE OF BANK. Sourendra Nath Indian banking needs vision and innovation. INDIAN BANKER (FORMERLY: IBA BULLETIN). 2007(Nov) 11. 7(11). 2003(Apr -Jun) 14-22. Ajay Kumar Innovations in banking in the reform era. W Scott and White. 80(11). 16(22). 12 . Gary World bank's innovation market. Balwinder Internet banking Indian banks moving towards innovation.  Rao. P Siva Rama ATM vs KCC product development vs.  Sofat. 2006(JanMar) 39-45.  Sidhu. PROFESSIONAL BANKER.  Akhavein. 6(4). BANK QUEST.  Singh. 78(2). 37(9). Wood. 2007(Sept) 24. Katuri Nageswara Banking on innovation.  Ghosal.  Malhotra. Frame. 1990(Jun-Aug) 11-13. 38(1). 2007(March) 15-17. 77(1). 2006(March) 97-103. INDIAN JOURNAL OF MARKETING. 78(2). MANAGEMENT ACCOUNTANT. Robert Chapman and Hamel. 2006(April) 29-36. JOURNAL OF BUSINESS. INDIAN BANKER (FORMERLY: IBA BULLETIN). COOPERATIVE PERSPECTIVE. 6(4-6). 39(11). Jalal. Lawrence J Diffusion of financial innovations an examination of the adoption of small business credit scoring by large banking organisation. HARVARD BUSINESS REVIEW. innovation banking.

A (78) Opinion of Rural male participants for initiatives Strongly Agree Neutral Disagree agree 3 2 1 0 Do you heard about innovation in GBs? 25 11 9 18 Do you heard about financial inclusion? 22 17 12 15 Do the business correspondents visit your 11 19 7 21 houses/ area? Do you have financial literacy and credit 5 13 12 18 counseling center which are run by banks? Do you have heard about 30 15 12 11 ATM? Do your bank having ATM facility? 0 0 18 25 Do your bank having mobile banking system? 0 0 27 13 Does your bank provide training to the 23 17 11 15 entrepreneurs or farmers? Is there any improvement in communication 11 17 13 25 and transport system to link the GBs? Is there any improvement in feedback system 9 5 13 21 like linkage between bank credit and use of it in raising productivity? Do the GBs whatever limit innovative effort 5 9 21 18 been able to mobilize the savings in rural population? Do you believe that wrong location of GBs is 23 13 10 12 the obstacle for implementation of innovative initiatives? Do you agree that institutional finance is 12 19 11 30 adequate and there is no need for dependence of money lenders? Do the bank officials visit the rural area to 17 17 21 13 explain various schemes? Do the GBs having sufficient liquidity to cater 7 17 12 17 the needs of the customer? Do you having phone banking facility? 0 0 11 25 Do your bank having debit card provision? 0 6 13 21 Do your bank having Negotiable Order of 3 7 15 28 Withdrawal (NOW) A/C Do your bank having Automatic Transfer 4 8 12 34 Account? Do your bank deals with all the banking 17 13 11 29 products? Source: Compiled from field survey.Annexure. GBs-Gramya Banks Attributes GBs innovation Strongly disagree -1 15 12 20 30 10 35 38 12 12 30 Score 91 100 58 23 122 -17 -11 102 68 20 25 29 20 85 6 79 10 25 42 38 25 20 8 96 42 -31 -13 13 20 80 13 .

GBs-Gramya Banks Attributes 14 .Annexure.B (54) Opinion of Rural female participants for GBs innovation initiatives Strongly Agree Neutral Disagree Strongly Score agree disagree 3 2 1 0 -1 Do you heard about innovation in GBs? 11 7 8 18 10 45 Do you heard about financial inclusion? 17 5 7 12 13 55 Do the business correspondents visit your 15 9 6 11 13 56 houses/ area? Do you have financial literacy and credit 5 7 19 13 10 38 counseling center which are run by banks? Do you have heard about 19 17 12 6 0 103 ATM? Do your bank having ATM facility? 0 0 13 20 21 -8 Do your bank having mobile banking system? 0 0 11 20 23 -12 Does your bank provide training to the 15 12 1 17 9 61 entrepreneurs or farmers? Is there any improvement in communication 5 3 12 18 16 17 and transport system to link the GBs? Is there any improvement in feedback system 3 8 9 21 13 21 like linkage between bank credit and use of it in raising productivity? Do the GBs whatever limit innovative effort 7 5 8 17 17 22 been able to mobilize the savings in rural population? Do you believe that wrong location of GBs is 11 13 9 11 10 58 the obstacle for implementation of innovative initiatives? Do you agree that institutional finance is 3 6 12 18 15 18 adequate and there is no need for dependence of money lenders? Do the bank officials visit the rural area to 15 15 5 11 8 72 explain various schemes? Do the GBs having sufficient liquidity to cater 7 6 13 15 13 33 the needs of the customer? Do you having phone banking facility? 0 0 17 13 24 -7 Do your bank having debit card provision? 2 7 19 17 9 30 Do your bank having Negotiable Order of 5 8 17 17 7 41 Withdrawal (NOW) A/C Do your bank having Automatic Transfer 9 9 11 18 7 49 Account? Do your bank deals with all the banking 4 4 12 9 25 7 products? Source: Compiled from field survey.

Annexure.C (67) Opinion of urban male participants for initiatives Strongly Agree Neutral Disagre agree e 3 2 1 0 Do you heard about innovation in GBs? 15 13 10 17 Do you heard about financial inclusion? 19 15 9 7 Do the business correspondents visit your 2 9 12 20 houses/ area? Do you have financial literacy and credit 23 5 7 18 counseling center which are run by banks? Do you have heard about 22 9 7 15 ATM? Do your bank having ATM facility? 0 0 5 32 Do your bank having mobile banking system? 0 0 9 28 Does your bank provide training to the 13 13 10 15 entrepreneurs or farmers? Is there any improvement in communication 6 4 19 18 and transport system to link the GBs? Is there any improvement in feedback system 4 4 8 21 like linkage between bank credit and use of it in raising productivity? Do the GBs whatever limit innovative effort 7 8 5 19 been able to mobilize the savings in rural population? Do you believe that wrong location of GBs is 3 9 9 26 the obstacle for implementation of innovative initiatives? Do you agree that institutional finance is 4 7 5 23 adequate and there is no need for dependence of money lenders? Do the bank officials visit the rural area to 23 10 12 10 explain various schemes? Do the GBs having sufficient liquidity to cater 20 17 10 18 the needs of the customer? Do you having phone banking facility? 0 0 7 29 Do your bank having debit card provision? 5 5 20 17 Do your bank having Negotiable Order of 3 6 11 25 Withdrawal (NOW) A/C Do your bank having Automatic Transfer 0 3 20 18 Account? Do your bank deals with all the banking 5 17 25 15 products? Source: Compiled from field survey. GBs-Gramya Banks Attributes GBs innovation Strongly disagree -1 12 17 24 14 14 30 30 16 20 30 Scor e 69 79 12 72 77 -25 -21 59 25 -2 28 14 20 16 28 3 12 2 31 20 22 26 5 89 102 -24 25 10 0 69 15 .

GBs-Gramya Banks Attributes 16 .D (42) Opinion of urban female participants for GBs innovation initiatives Strongly Agree Neutral Disagree Strongly Score agree disagree 3 2 1 0 -1 Do you heard about innovation in GBs? 12 9 7 10 4 57 Do you heard about financial inclusion? 13 5 7 13 4 52 Do the business correspondents visit your 9 5 11 13 4 44 houses/ area? Do you have financial literacy and credit 7 7 7 10 11 31 counseling center which are run by banks? Do you have heard about 16 12 12 1 1 83 ATM? Do your bank having ATM facility? 0 0 9 18 15 -6 Do your bank having mobile banking system? 0 0 3 20 19 -16 Does your bank provide training to the 19 12 7 2 2 86 entrepreneurs or farmers? Is there any improvement in communication 12 10 10 5 5 61 and transport system to link the GBs? Is there any improvement in feedback system 5 7 9 12 9 29 like linkage between bank credit and use of it in raising productivity? Do the GBs whatever limit innovative effort 3 9 8 20 2 33 been able to mobilize the savings in rural population? Do you believe that wrong location of GBs is 3 5 17 15 2 34 the obstacle for implementation of innovative initiatives? Do you agree that institutional finance is 5 13 12 10 2 51 adequate and there is no need for dependence of money lenders? Do the bank officials visit the rural area to 22 12 5 3 0 95 explain various schemes? Do the GBs having sufficient liquidity to cater 20 9 7 5 1 84 the needs of the customer? Do you having phone banking facility? 0 0 0 22 20 -20 Do your bank having debit card provision? 5 2 10 17 8 21 Do your bank having Negotiable Order of 2 5 9 18 8 17 Withdrawal (NOW) A/C Do your bank having Automatic Transfer 0 2 15 20 5 14 Account? Do your bank deals with all the banking 7 12 15 4 4 56 products? Source: Compiled from field survey.Annexure.

GBs-Gramya Banks Attributes 17 .E (73) Opinion of semi-urban male participants for GBs innovation initiatives Strongly Agree Neutral Disagree Strongly Score agree disagree 3 2 1 0 -1 Do you heard about innovation in GBs? 21 23 12 13 4 117 Do you heard about financial inclusion? 18 12 7 15 21 64 Do the business correspondents visit your 13 13 21 12 14 72 houses/ area? Do you have financial literacy and credit 17 12 19 21 4 90 counseling center which are run by banks? Do you have heard about 20 10 12 13 18 74 ATM? Do your bank having ATM facility? 0 0 12 36 25 -13 Do your bank having mobile banking system? 0 0 8 42 23 15 Does your bank provide training to the 21 17 11 16 8 100 entrepreneurs or farmers? Is there any improvement in communication 17 12 10 23 11 74 and transport system to link the GBs? Is there any improvement in feedback system 19 17 11 22 4 98 like linkage between bank credit and use of it in raising productivity? Do the GBs whatever limit innovative effort 15 15 21 18 4 92 been able to mobilize the savings in rural population? Do you believe that wrong location of GBs is 13 21 10 8 21 70 the obstacle for implementation of innovative initiatives? Do you agree that institutional finance is 11 19 23 8 12 82 adequate and there is no need for dependence of money lenders? Do the bank officials visit the rural area to 21 30 12 1 9 126 explain various schemes? Do the GBs having sufficient liquidity to cater 12 12 30 9 10 80 the needs of the customer? Do you having phone banking facility? 0 0 10 35 28 -18 Do your bank having debit card provision? 5 3 28 20 17 32 Do your bank having Negotiable Order of 0 7 20 31 15 19 Withdrawal (NOW) A/C Do your bank having Automatic Transfer 2 17 21 25 8 53 Account? Do your bank deals with all the banking 5 7 19 13 29 19 products? Source: Compiled from field survey.Annexure.

Annexure. GBs-Gramya Banks Attributes 18 .F (40) Opinion of semi-urban female participants for GBs innovation initiatives Strongly Agree Neutral Disagree Strongly Score agree disagree 3 2 1 0 -1 Do you heard about innovation in GBs? 11 8 5 2 14 40 Do you heard about financial inclusion? 21 10 2 4 3 82 Do the business correspondents visit your 15 8 5 7 5 61 houses/ area? Do you have financial literacy and credit 12 5 8 2 13 41 counseling center which are run by banks? Do you have heard about 13 12 7 7 1 69 ATM? Do your bank having ATM facility? 0 0 0 27 13 -13 Do your bank having mobile banking system? 0 0 0 35 5 -5 Does your bank provide training to the 21 13 5 1 0 94 entrepreneurs or farmers? Is there any improvement in communication 12 10 8 7 3 61 and transport system to link the GBs? Is there any improvement in feedback system 7 7 7 9 10 32 like linkage between bank credit and use of it in raising productivity? Do the GBs whatever limit innovative effort 5 3 12 1 19 14 been able to mobilize the savings in rural population? Do you believe that wrong location of GBs is 3 8 7 11 11 21 the obstacle for implementation of innovative initiatives? Do you agree that institutional finance is 15 5 7 0 13 49 adequate and there is no need for dependence of money lenders? Do the bank officials visit the rural area to 13 12 7 5 3 67 explain various schemes? Do the GBs having sufficient liquidity to cater 5 3 9 11 12 18 the needs of the customer? Do you having phone banking facility? 0 0 1 26 13 -12 Do your bank having debit card provision? 0 1 13 12 14 1 Do your bank having Negotiable Order of 3 2 5 18 12 6 Withdrawal (NOW) A/C Do your bank having Automatic Transfer 2 5 10 10 13 13 Account? Do your bank deals with all the banking 13 13 5 7 2 68 products? Source: Compiled from field survey.

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