Business Growth Strategy
Gramin Bank of Aryavart has conceived plans for deposit and CASA mobilization, specifically by targeting the rural and semi-urban population. It is also intending to link farmers’ accounts with farm produce procurement and focus on retail customers for current accounts. One focus area is to provide technologyenabled services to its customers. Another focus area is financial inclusion and this will be achieved through business correspondents/business facilitators...
Says S.B. Singh, chairman of the bank: “We will be focusing on our 20% of core customers, so as not to lose our deposit base. We will introduce special savings deposit accounts bundled with free ATM card, with added benefits like insurance based on customer segmentation, which will be provided as welcome kit.”
For borrowings, the bank will be enhancing resource base and optimizing borrowing / refinance facilities for cost reduction. Yield on investment should be optimized. The bank will be more active towards trading to generate income other than interest.
“For augmenting credit, we will be creating life cycle products for target segments, diversifying asset portfolio and increasing investment credit. There will be increased coverage through Self Help Groups (SHGs), Joint Liability Groups (JLGs) and more agricultural term loans,” says Singh.