project synopsys_amit a. chordiya_nid

8/19/2019 Project Synopsys_Amit a. Chordiya_NID

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Pro jec tSynopsys

Bank on Wheelsfor Rural FinanacialInclusionbank: Manmad Urban Co-op. Bank Ltd.guide: Praveen Naharstudent: Amit A. ChordiyaNational Institute of Design, 2012


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PROJECT SYNOPSYS: MOBILE BANK FOR RURAL FINANCIAL INCLUSION I by - AMIT A. CHORDIYA I Guide - PRAVEEN NAHAR I NATIONAL INSTITUTE OF DESIGN

As per NID’s curriculum, all final semester students arerequired to undertake a diploma project which is a fullscale design project in the industry. This diploma projectcomprises a comprehensive project based on a predetermineddesign brief. The diploma project, which is expected tobe of 6 months duration, is a complete demonstration ofindependent client service by the student under the guidanceof a faculty member from NID. The student is expected torender a professional design assignment with application andimplementation capabilities. The project brief is approvedby the student’s faculty guide. While doing the project, thestudent is also required to make at least 3 guide visits duringthe course of the project; wherein, the guide reviews theprogress of work. On successful completion of the work, thestudent’s performance on the project is critically evaluated bya jury comprising NID faculty members and external expertsfor the award of the NID’s Professional Education ProgrammeDiploma upon the student.

This diploma project document is a complete account ofproject methodology, process and outcomes. This documentoutlines the efforts made with objectives of providingaccess of financial services to maximum number of people(in Manamd* region) with a well-designed bank onwheels for a better customer experience and setting up abenchmark for scaling up similar initiatives in other regions(to address ‘the last mile’ problem) as well. Though theproject implementation could not be demonstrated (due tounavoidable circumstances); complete execution plan forthe operation of mobile bank in villages nearby Manmad,design of custom interior of the mobile bank, its exterior andcommunication design intended to achieve rural financialinclusion for the facilitator bank (which is a scheduledcommercial bank) are documented here.

* M a n am d is 3rd largest town in Nasik District (India) withpopulation around 125thousand people

Preface


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PROJECT SYNOPSYS: BANK ON WHEELS FOR RURAL FINANCIAL INCLUSION I by - AMIT A. CHORDIYA I Guide - PRAVEEN NAHAR I NATIONAL INSTITUTE OF DESIGN

The National Institute of Design (NID) is internationallyacclaimed as one of the foremost multi-disciplinaryinstitutions in the field of design education and research. Theinstitute functions as an autonomous institute of nationalimportance under the department of Industrial Policy &Promotion, M inistry of Commerce & Industry, Government ofIndia. NID is recognized by the Dept. of Scientific & IndustrialResearch (DSIR) as a scientific and industrial design researchorganization. The BusinessWeek, USA has listed NID as one ofthe top 25 European & Asian programmes in the world.

On the basis of Charles and Ray Eames’s remarkabledocument – ‘The India Report ’ NID was set up in 1961 and isknown f or it ’s pursuit of design excellence to make DesignEnabled India. NID offers professional education programmesat Undergraduate and Post Graduate level with f ive facultystreams viz. Industrial Design, Communication Design, Textile,Apparel & Lifestyle Design, IT Integrated (Experiential) Design

and Interdisciplinary Design Studies.

NID’s vision is to emerge as a global leader in DesignEducation and Research and become a torchbearer forinnovative design directions in the industry, commerce anddevelopment sectors. NID’s trans-disciplinary environmentconsisting of 17 diverse design domains helps in creatinginnovative and holistic ecosystem for design learning. NID’sgraduates have made a mark in key sectors of commerce,industry and social development by taking role of catalystsand through thought leadership.

About Nid


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PROJECT SYNOPSYS: MOBILE BANK FOR RURAL FINANCIAL INCLUSION I by - AMIT A. CHORDIYA I Guide - PRAVEEN NAHAR I NATIONAL INSTITUTE OF DESIGN

Year of establishment 1999-2000 Functions under Co-operative Societies Act, 1965 and

Banking Regulations Act 1945

Regulated by Reserve Bank of India

License no NSK/NSK/BNK/O 112/99UBD/MUM [MAH] 0014 P/1999-2000

Type of bank Scheduled Commercial Bank

No. of branches 1

Address 4,5 Balwant Chambers,Manke Compound,Manamd 423104dist- Nahik, India

Services Banking and finance

Chairman Mr. Sanjay Wadnere

Manager Mr. Khadtale

No. of board members 18

No. Staff members 7

Facilitator Bank: Manamd Urban Co-Op. Bank Ltd.


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PROJECT SYNOPSYS: BANK ON WHEELS FOR RURAL FINANCIAL INCLUSION I by - AMIT A. CHORDIYA I Guide - PRAVEEN NAHAR I NATIONAL INSTITUTE OF DESIGN

Background : Rural Financial Inclusion in Indiaa country .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. & 3 megacities380 urban conglomerates .. .. .. .. .. .. .. .. .. .. .. .. .. & 640 districts5767 tehsils & 7742 towns6,38,000 villages 1,19,982 villages said to have banked .. .. .. .. / 6,38,000 villages37,471 rural branches .. .. .. .. .. .. .. .. .. .. .. .. .. .. / 1,19,982 villages said to have banked37,471 rural branches .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. / total 99,242 branches & 1,39,144 rural post

offices ( / 1,55,516 post offices)

74,24,90,639 rural population .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. / 1,02,87,37,436 total population51,97,43,447 financially excluded rural people .. / 74,24,90,639 rural & 1,02,87,37,436

Indian population51,97,43,447 financially excluded rural people .. .. .. .. .. .. .. / 61,72,42,462 financially

excluded Indians 14,50,00,00 financially excluded households .. .. .. .. .. .. .. / 20,59,00,000 households in India

(highest in t he world)

21,38,00,000 rural savings accounts .. .. .. .. .. .. .. .. .. .. .. .. .. / 37,35,00,000 savings accounts with

SCBs; accounting for 60.11% of GDP38.8 rural savings account / 100 adults compared to 75.2 urban savingsaccounts / 100 adults

5,31,00,000 rural credit accounts .. .. .. .. .. .. .. .. .. .. .. .. .. .. / 9,44,00,000 credit accounts with SCBs;accounting for 43.62% of GDP

9.6 rural credit accounts / 100 adults .. .. .. .. .. .. .. compared to 12.4 urban creditaccounts / 100 adults

10.6 branches per 1,00,000 adult persons & 30.4 branches / 1000 km 2 8.9 ATMs per 1,00,000 adult persons & 25.4 ATMs / 1000 km 2 13,300 people per branch13,85,00,000 no frill accounts

10 % Indian population has access to Insurance18 % have debit cards .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. & only 2% have credit cards

Exclusion is staggering whichever parameter one chooses to look at !

References All India Debt and Investment Survey (AIDIS) released once in a decade by the National Sample Survey Organisation (NSSO)6 and various

banking data brought out by the Reserve Bank from time to time. The analysis is also supplemented by the data based on the surveysconducted by NCAER-Max New York Life and India Invest Market Solutions (IIMS).

Image Credits - http://www.babusofindia.com http://indiashaining.blogspot.in


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This project is about a critical dimension of financialin/exclusion – ‘Access’. Stating simply; it is about A well designed Bank

On wheels for better customer experience

That will go to 23 villages nearby a central town, Manmad

Has area of 38.1 ft²

Requires monthly running cost of INR 27,180

Can server up to 33,350 adults & 50,512 people

Requires capital investment of INR 5, 87,188 i.e. about INR 18per adult

Has potential debit opportunity of INR 87, 18,500 per yr &credit opportunity of INR 82, 01,000 per yr.

If scaled up for 798 towns like Manmad (with populationmore than 50,000) across India

Just by covering 18,354 villages out of 2, 29,150 villages (with population more than 1000)

Can serve up to 4,03,08,576 rural people out of51, 97, 43,447 financially Excluded Rural Indians

Abstract

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The project was facilitated by Manmad Urban Co-operativeBank (belongs to Manmad - my hometown in Nashik district),which was looking forward to expand its reach with bank onwheels. Intriguing field research followed by primary research

just propounded the need for Rural Financial Inclusion in5, 18,018 unbanked villages (out of 6, 38,000) in India.Financial inclusion is the road that India needs to traveland write golden chapters of human endeavour & socialdevelopment.

The project emphasises the fact that financial inclusion is notabout giving hand-outs to anyone, rather it is about gettingpeople to help themselves.

The design process followed under the guidance of my guide;yielded into,

Bank on wheels - sensitive to cultural factorsand semantic aspects

Bank on wheels that has robust safety andsecurity measures clubbed with design for assemblyand maintenance

Bank on wheels whose Identity design is morphedinto vehicles exterior and interior design; and reflectsco-operation, dynamics and trustworthiness .

Apart from teaching me with netegrities of banking, keylearning from the project were working in real life scenario,within cost and space constraints.

Banks need to have both model and motivation toconvert rural financial inclusion into sustainable businessopportunities. This project is an attempt to put forward thesame.

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Thank UAmit A. ChordiyaGDPD, Product Design,National Institute of [email protected][email protected]+91 9898 1423 98

project synopsys_amit a. chordiya_nid

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