There has been a big boom in agent banking in the country since 2018. It has opened up an array of opportunities for the people living in both rural and urban areas. Although, there are a few who have suffered a setback because of the pandemic, the benefits still outweigh the individual losses.
To begin with, banking activities were reduced to a great extent because of the outbreak and consequently customers had to suffer. As a result, once again banks are looking to implement new strategies to maximise the benefits offered by agent banking.
In this age of digitalisation, agent banking has reached almost all corners of the country and thus has established a sense of endless connectivity between the customers looking to avail of the banking services and the banks.
New avenues need to be looked into so that loan portfolios
and macro-level opportunities for the people in
the rural areas can be expanded as a huge number
of people have moved back to the villages
As a result, people can now do banking transactions such as cash deposit, cash withdrawal, account opening, account inquiries, remittance disbursement, small-amount loan disbursement, loan recovery, fund transfer and bill payment with the help of agent banking, according to a report published in this daily.
In this continuation it would be wise for the banks to adopt a few more strategies to tackle the heavy blow dealt by the pandemic. Customer satisfaction should be the focal point of any
business, but it is also to be ensured that proper health regulations are maintained in this time of corona virus.
Furthermore, new avenues need to be looked into so that loan portfolios and macro-level opportunities for the people in the rural areas can be expanded as a huge number of people have moved back to the villages because of the economic crisis.
Not only that, these people will need banking services more to stand back on their feet. So, it would be prudent if better loan and deposit products and policy changes could be made by the banks for these people.
