Innovative banking products for rural markets
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marketing, product, financial services, retail banks, banking, analytics, distribtuion, branding, Innovative Banking Products for rural markets
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About "Innovative banking products for rural markets" topic:
What are the appropriate products for rural markets? Product innovations for rural markets: status and challenges. Discuss here.....
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on topic: "Innovative banking products for rural markets"
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K. V. Kamath, CEO of India's second largest banking and financial services conglomerate, ICICI, is a man in a hurry. When he occupied the driver's seat at ICICI more than a decade ago, it was a financial institution hamstrung by political constraints. Kamath was a key member of the top team at ICICI, including chairman Narayanan Vaghul, that led the organization into new businesses such as insurance and banking. Kamath, who spent his early years with the Asian Development Bank in Manila, used technology effectively, including online banking, to pry open market expansion. Today, his top challenge is to retain the talent ICICI trains, which is keenly sought by other financial services players...
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m k mathai
| Commented
| 3 years ago
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rural india remains largely unbanked even today. financial inclusion and similar high sounding initiatives havent made a dent yet. probably because bankers have no understanding of the needs of rural india. it is definitely not high tech banking...
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Hitesh Thakkar
| Commented
| 3 years ago
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Hi Sajan, Thanks for sharing the bitter side of good Institute as ICICI. I only hope that top managment also would have heard such things and may come up with plan of action to curb it.
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Hitesh Thakkar
| Commented
| 5 years ago
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Yes Shyam, You are right. Actually, I admire FINO initiative of IBM + i-flex and ICICI bank. It is one step towards low cost technology plateform to all the MFIs. Problem is Non Banking footprint being too large against the banking one. Every...
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Insight: "Banking in Rural India - Best Thought from K.V.Kamat - CEO of ICICI Bank " deleted from your view.
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Yes
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9
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4
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No
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Davies francis
| Argues in support of
"No"
| 2 years ago
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i thnk if LG WANTS TO ENTER RURAL MARKET IT SHOULD COMPROMISE THE PRICE
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Harender Singh
| Argues in support of
"Yes"
| 2 years ago
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There are some myths about rural: rural people purchases in sachets (small quantity), while doing a campaign in Haryana, asked the group of farmers, they shared that they purchase year stock household items like sugar, tea, Soap,etc at the time of...
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B.Mehernath
| Argues in support of
"Yes"
| 4 years ago
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I do agree, the rural market has the potential and they can afford to buy branded products. Well ifwe compare today's scenario, there is hardly any difference in urban and rural market. You can see latest handsets to microwave and latest...
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Debate: "LG in Rural market" deleted from your view.
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IN RURAL MARKETS BANKS HAS TO LOOK UPON THE NEEDS AND DERIRES OF THE PERSONALS AND THAT WILL HAPPEN ONLY WHEN THEY WILL FOLLOW THE PARTICULAR TRENDS ........... LIKE WHILE GOING FOR OPEN A MARKET IN RURAL AREAS DEFINE THE PRODUCTS AS PER THEIR DESIRES, ONE IS SUCCESSFULL IN PARTICULAR MARKET WHEN INSTEAD OF LOOKING FOR OWN BUSINESS , THEY WILL LEARN HOW TO RETAIN AS WELL GAIN THE CUSTOMERS........ BECAUSE CUSTOMER IS KING AND THAT IS ACCEPTABLE WHEN COMPANIES DEVELOP THEIR NEEDS AS PER CUSTOMERS........ BENEFITS: GAINING MORE CUSTOMERS IN LOW POPULATED AREAS BANK WILL START EARNING REVENUE FROM THESE AREAS Â THINGS TO DO: INITIALLY IDENTIFY THE RURAL MARKET SEARCH FOR THE COMPETITIVE BANKS ...
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Ajoy Kumar Das
| Commented
| 4 years ago
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Yes sushant one has to understand what really works in the rural market, do a survey understand the market and then come out with a product which suits them rather than having similar products for all, so Rural banking products play a very good...
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Insight: "Rural Banking Product" deleted from your view.
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Most Indian innovators — both large and small — are now single-mindedly targeting the rural market, which accounts for 70% of India’s population.
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Balram
| Answered
| 4 years ago
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70% of India's population of 1.1 bln depend on crop and animal husbandry, forestry and agro-forestry, fisheries (inland and marine) and agro-processing for their livelihood. Nearly 115 mln farming families are struggling in India to produce more...
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wwwwww
| Answered
| 3 years ago
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People in the rural areas have needs that are basic and that which help them to make their daily work better.If one remebers during Shri.Adbul Kalam sir's tenure as the president of India he has made sure that rural innovators were felicitated...
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Answer: "How can India unleash a rising innovation tide that lifts all its rural boats?" deleted from your view.
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Yes
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1
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0
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No
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Ram Krishan Rastogi
| Argues in support of
"Yes"
| 2 years ago
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Microfinance is very necessary for rural areas specially for small medium size farmers
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Debate: "Microfinance is sutable for rural areas specially for small " deleted from your view.
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A brand is a name that distinguishes a product from others. It has its own identity in the market with its symbol and tagline. When we talk about brands in rural markets some of the names which come to our mind are Rajdoot Bikes,Ghari Detergent,Dolly TV and chic shampoo etc Findings indicated that good quality, value for money and sense of identity with brand were likely to act as key determinants of a FMCG brand in rural India. Better finish and good looks, recommendations from retailers were found be key determinants of a consumer durable brand in rural India. Lets throw some light on agro inputs also like pesticides, fertilizers, manure, seeds, tractors, harvesters, pumps and threshers etc. In this regards marketers are following market specialization strategy.HYV seeds are also becoming popular among the farmers. It is a known fact in rural areas that price plays an important role in rural markets for purchasing the products. Now the New Era of marketing is changing the...
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