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CORPORATE OVERVIEW
FY 2019-20 ACHIEvEMENTS
Added 37.2 Lakhs MicroBanking savings accounts and 82,406 family accounts, and 1.1 Lakhs cashless repayment customers
Achieved 6.6 times increase in Mobile banking users (2.2 Lakhs) and 11 times increase in UPI users (1.34 lakhs) users during this financial year, while 1.1 Lakhs customers opted for digital mode of loan EMI payment (3 times increase)
Expanded Digibuddies programme to
358 branches to handhold customers on the use of digital platforms
Onboarded 19.7k customers with private businesses on UPI QR, who executed `3.41 Crores worth credit transaction in their savings
account via UPI QR
Piloted Money Mitra for services such as loan EMI payment, SA deposit and withdrawal and fund transfer in customer neighbourhood
Scaled-up individual lending by introduction of product variants and simplifying current asset product offerings and processes
Re-engineered our business processes by driving digital initiatives such as cash-less repayments, digital pre-approved loans, payment solutions
Launched new products like Top-Up loan (for short-term requirements) and Home Improvement loan (for financing needs of new-to-bank customers)
Streamlined our processes for greater efficiency and significantly reduced our disbursement turnaround time (TAT) to an average of three days
Maintained GNPA of 0.9% with close portfolio monitoring and continued collection efforts
Forayed into new markets of Rajasthan and Uttar Pradesh
Introduced agri secure product Kisan Pragati Card
Initiated Kisan Pragati Club to encourage good banking practices
FocUSSinG on FinanciaL LiteRacY
We also continued with our mission of sensitising our customers towards financial discipline, different financial tools and responsible banking practices in association
with Parinaam Foundation.
We covered over 1 Lakh MicroBanking customers through parinaam’s flagship Financial Literacy programme Diksha+.
Road ahead
Going forward, managing the effects of lockdown will be our priority. We will set in motion initiatives such as curtailing
the credit cost, re-starting the business with repeat clients, scaling deposit and Sampoorna banking business, along with penetrating new geographies, and further pushing the growth of rural banking.
We will also introduce consumer durable loan, micro loan against property and use an analytics-based model to graduate group loan customers. Additionally, we will simplify our digital pre-approved loan process with the help of data
analytics and expand our UPI
QR based payment solutions for merchants via upI Acquirer platform and our UPI PSP Mobile app.
Besides, we will step up cashless repayment further through
our ‘Money Mitra’ initiative and offer banking services from neighbourhood shops and pilot cash collection points. We are
also planning to launch a Voice-, Video- and Vernacular-based, easily navigable mobile banking app for microfinance customers to drive digital usage.
Moving ahead, we will expand the product base with new channels of Loan EMI payment via popular and easy-to-use platforms – Popular UPI apps, BBPS, CCAvenue and Billdesk and use of BC and digital pre- approved Individual Loans via phone banking and mobile app.
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