Jazbe ko Salaam – Sub-K & GFI
Sub-K IMPACT Solutions Limited and Grameen Foundation India (GFI) came together to honor Women BC Agents at the Jazbe Ko Salaam event to mark the celebration of International Women’s Day. These agents were recognized for their outstanding contributions and achievements in different categories.
Waterwheel has the capacity to carry 45 Litres of water at a time; it is two times more efficient than head loading and in only two rounds one can carry as much as 90 liters of water which is sufficient for a family of 4 to 5 on a daily basis. All this makes water wheels an effective, safe, and durable alternative to carrying water in pots over one’s head.
Sub–K started as a savings-centric model an entry point strategy wherein the objective was to enable a large number of unbanked rural population to open savings bank accounts and to perform basic banking transactions at the village level. A tech platform was built in-house that can perform real-time banking transactions using a feature phone and facilitated by agents deployed on behalf of banks.
Financial inclusion is one of the key drivers of economic growth. Now make it digital and it becomes a game-changer. Financial inclusion is easy to adopt and scale when it is digital. The world had gradually been moving towards digitization, but the pandemic forced the shifting of gears to immensely accelerate the journey.
It has been a quarter of a century (1996) since electronic banking was started in India, followed by online banking about three years later (1999). And nearly two decades since mobile banking was started with SMS (in 2002). Since then, banking services have seen a sea change. So much so that one does not need to visit the branch for any transaction.
There’s no doubt that technological developments create cool new tools. However, it is the culture that powers and sustains meaningful change. Organizations that ignore culture transformation, risk transformation failure.