Starting with a predominant share of corporate banking business, IDFC Bank received a universal banking licence from the Reserve Bank of India (RBI) in July 2015 and started operating from October 1, 2015. Being a start-up in itself, the Bank expects its initiative, ‘Bharat banking’, a rural banking unit, to become a Rs 15,000 crore business in five years. In a bid to instil entrepreneurial qualities among the youth, the Bank has started various programs for start-ups. Entrepreneur caught up with the founder and CEO of IDFC Bank, Dr. Rajiv Lall, to know more about their initiatives to promote the start-up culture in India.
How bank is contributing in bridging the gap between Bharat and India?
IDFC Bank is contributing in bridging the gap between Bharat and India by digitizing banking in rural India. The Bank is investing in last mile infrastructure by installing micro ATMs in deeper rural and far flung locations, which have been so far excluded from the formal banking fold. The Bank’s first-of-its-kind micro ATM is introducing users to the concept of ‘assisted digital’. This is making banking not only ubiquitous but is revolutionizing the way people transact.
What is ‘Bank-in-a-Box’?
The micro ATM used in semi-urban and rural India operates like a ‘Bank-in-a-Box’. It consists of a tab, biometric scanner and a thermal printer. It is capable of Account Opening (in 4 minutes, e-KYC, paperless), Account Servicing (deposit, cash withdrawal, balance enquiry, fund transfer, remittances, mini-statement etc) and Acceptance Infrastructure (government payments including pensions, scholarships etc.).
Bu hikaye Entrepreneur magazine dergisinin November 2016 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Entrepreneur magazine dergisinin November 2016 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Chords of Success
For Saahil Goel, the deep-rooted passion for playing the guitar dates back to his high school days. Influenced by legends like Pink Floyd, Led Zeppelin, and the Pakistani band Strings, his musical journey mirrors his leadership style-balancing focus, discipline, and a collaborative spirit. Goel feels that playing guitar has enhanced his ability to balance focus and teamwork as a founder of an eCommerce shipping start-up.
IS YOUR RENT TOO DAMN HIGH?
Many small business owners struggle with their rents. Here's what to do.
HOW TO BOUNCE BACK FROM A BAD REVIEW
A one-star review can hurt your ego - and your business. But it's possible to prevent (and remedy!) this scary scenario.
HOW TO HIRE FOR THE FUTURE
Small businesses are struggling to find quality labor. So flip the conversation: Show workers how your business will set them up for opportunity.
You Can Hire Like Netflix
The streaming platform built an incredible team with a strategy called “talent density.” But you don’t need to be a tech giant to do it.
Speedy Growth Killed My Startup
We seemed to be rocking it - lots of press, major partnerships. Then we learned the harsh consequences of overlooking our customers.
Three Pivots to $100 Million
How do you find a working business model? Do it like Rowan-a brand that reinvented itself many times before finally piercing the ear-piercing market.
What Goals Actually Matter?
Some benchmarks are more important than others so what should you really care about? We asked six founders for their hardest-won lessons.
'Only the Strongest Are Going to Survive'
Brian Lee cofounded companies like LegalZoom and ShoeDazzle-and he believes a lot of conventional business wisdom is backward. Sure, it's harder to raise capital. But it's actually cheaper than ever to start a company.
HOW TRUST SAVED KFC
The former CEO of Yum! Brands explains how he turned around a struggling KFC-and the important lesson it offers for anyone in franchising.
