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Showing posts from September, 2017

How a Human Touch Agent Can Make a Difference in Promoting Digital Financial Services

What does effective human touch look like in the digital age? Authors Shreya Chatterjee and Misha Sharma share preliminary insights from an ongoing study. This post first appeared on the CFI Blog here. Shreya is a Senior Research Associate, and Misha is a Project Manager with IFMR LEAD. 



It was almost three in the afternoon when we arrived at Padma’s house in the sleepy village of Katpadi in Tamil Nadu. In a state where 55 percent of women in rural areas don’t participate in the labor force, Padma is the only business correspondent (BC) in her village, working for the sole bank in the area. In 2006, the Reserve Bank of India (RBI) passed guidelines that allowed banks to employ third party agents, using decentralized technology to provide banking services in rural and remote areas. Padma works 12 hours a day, providing localized basic banking services to her immediate community. As a business correspondent, she helps customers open bank accounts, deposit and withdraw cash often linked to…