Ratnakar Mishra

03/09/2014

Chai and ATM card

Filed under: Social issue — ratnakarmishra @ 5:28 pm

Chai and ATM card
96.36% urban Indians haven’t been inside bank since the introduction of ATM card, the situation is reversed in rural India .Rural Indian have stronger relationship with their Banker BABU than their Chai. One day I encouraged one of our customer to use ATM card instead of coming daily into the branch for 500/- withdrawal .I was surprised with his answer “Are aap ko kya problem hai paisa mera ,merzi meri ,Bank sarkar ki ,aap sarkari naukar aap kaun hote hai mujhe rokne wale ,and he went manger cabin for failing complaint .
In a recent report found that traditional banks could lose a third of their market share to non-banks by 2020.Banking is one of several industries that the firm describes as ‘digitally contestable markets ‘ .Indian eCommerce site like flipkart ,amzon.in ,myntra and online mobile recharge shop already started pre-paid card and accounts ,just think you are going to purchase a vegetable and shop honor offer you a prepaid card ,even your Chai wala having prepaid card .before the digital revolution ,it made sense for banks to move money around as they were the institution closed to it ,now while banks serve as secure repositories of money a host of players are offering all sorts of other services that are faster ,cheaper more convenient ,and more intuitive then those of Banks.

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