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Originally Posted by chandrapiyush  Its a very interesting point that has been raised, I have worked in Banking for few years so from my prespective if you actually see there is a huge market in Rural India and is being realised by all the major bank.
The few Challanges that a MNC or Private Player face while trying to make a markin this market
a) The buiggest factor is the Profitablity, though all agree about the market that is available but no one is willing to wait for long
b) The time and resources required to be invested is huge
c) One of the biggest challenges that these banks are facing is to get the money out of homes and get in the account, it remains a biggest hinderence as still people feel its face to keep the money home.
But there are other means that these fiancial institutions are following to get their foot space in the market the flagship for this being SME & Microfinance.
These two have taken off very well and has been widely accepted. Though the potentail is huge with enormous apportunities but the problem remains what would be the next step after the inital one.. |
I entered into a similar discussion with a senior HNI at ibm ( cant reveal names ) and he is very strong on mcommerce.
One thing to ponder upon is the penetration of cell phones visavis computers. The growth rate of cellphones is phenomenal and he gave some surprising stats to support it.
The point I am trying to make here is, use of high end cellphones to support micro finance activities can make inroads for banking and overcome most of the challenges you've pointed out
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