ICT SOLUTIONS FOR FINANCIAL INCLUSION BY CANARA BANK

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

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.

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.

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.

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.

ICT SOLUTIONS FOR FINANCIAL INCLUSION

ICT SOLUTIONS FOR FINANCIAL INCLUSION

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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.

ICT SOLUTIONS FOR FINANCIAL INCLUSION
 BIO METRIC HANDHELD MACHINE:

ICT SOLUTIONS FOR FINANCIAL INCLUSION
 The bio metric handheld machine is 10" X 5" X 3" in


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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.

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.

ICT SOLUTIONS FOR FINANCIAL INCLUSION

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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.

ICT SOLUTIONS FOR FINANCIAL INCLUSION
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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.

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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.

ICT SOLUTIONS FOR FINANCIAL INCLUSION
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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.

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.

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.

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

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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.

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

ICT SOLUTIONS FOR FINANCIAL INCLUSION

THANK YOU

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