India’s Bandhan Bank’s plans to usher in a new model in financial inclusion
Wednesday, September 10, 2014
When Bandhan Bank roll outs its services across the country in October 2015, it will be a bank with a difference. The plan is unique. Bandhan will start its journey with 600 branches. The microfinance company’s existing 2,016 offices will operate as sub-branches, each having an army of salaried field staff to take banking to the villages.
“We will operate in a hub-and-spoke model,” says its Chairman and Managing Director, Chandra Shekhar Ghosh. While the nitty-gritty is yet to be finalised, Ghosh says he will bring about a new model in financial inclusion by connecting consumers, right from the large cities to the remotest of remote villages.