This isn’t just about convenience; it’s about financial inclusion—the ability for everyone, regardless of location or background, to access the services they need to manage their money effectively.
This is where BANKIT addresses the problem and comes into the story. BANKIT appoints local shop owners as its agents and bridges the gap between banking and financial services for the community. It is bringing essential banking services right to the doorsteps of rural households.
These agents are more than just service providers—they are trusted neighbours, financial guides, and community champions.
Let’s explore the top 7 reasons why rural India needs more BANKIT Agents and how they are transforming lives in underserved areas across the country.
1. Limited Access to Banking Facilities
In most rural areas, visiting a bank often means travelling several miles to the nearest branch. Something as simple as withdrawing cash or transferring money becomes a time-consuming and expensive task to do.
BANKIT Agents eliminate this inconvenience. By appointing local shopkeepers as agents, BANKIT ensures that essential financial services like cash withdrawal, balance inquiry, and money transfers are available within walking distance. This not only saves time but also reduces travel expenses, making banking accessible to all.
A large percentage of India’s rural population lives far away from the nearest bank branch. BANKIT makes banking as simple as visiting your neighbourhood store.
2. Building Trust Within Communities
Many people living in rural areas don’t trust financial institutions other than banks. There is a constant fear of fraud, theft, or mishandling of money. This mistrust often discourages people from doing various financial tasks and transactions using formal financial services.
BANKIT Agents build trust in the community. They are local shop owners or people with familiar faces in the area. People feel comfortable using modern banking services because they know and trust the person handling their money. By choosing trusted local people as agents, BANKIT helps citizens feel safe and confident with financial institutions.
3. Overcoming Language Barriers
Language is another significant barrier that people in rural areas face when interacting with banks. Most banking processes are conducted in English or Hindi, making it difficult for those who prefer communicating in their native language.
BANKIT solves this problem by allowing its agents to communicate in the local accent. Whether it’s Tamil, Marathi, Bhojpuri, or Bengali, BANKIT Agents ensure that customers are comfortable and confident in their financial transactions with no paperwork requirement. This personalised approach helps bridge the communication gap, making banking services more accessible to everyone. Language familiarity can significantly enhance user engagement and trust, especially in rural and semi-rural communities.
4. Lack of Financial Literacy
A big challenge in rural India is that many people don’t know much about financial and payment services. Things like online payments, mobile banking, or insurance can feel confusing for those who are not familiar with these systems.
BANKIT Agents work as financial educators in their communities. They assist people with their banking and financial transactions. Whether it’s paying electricity bills or sending money safely, BANKIT Agents give people assistance and guidance to manage their finances better.
According to a study by the National Institute of Securities Markets (NISM), only 24% of Indians are financially literate, underscoring the importance of BANKIT Agents in driving awareness and education using its vast agent network.
5. Heavy Dependency on Cash Transactions
In rural areas, people still rely heavily on cash for daily transactions, such as paying bills, making money transfers, and other expenses, which can be inconvenient, time-consuming, and risky.
BANKIT Agents help these rural communities by accepting their money for all kinds of transactions, such as paying bills, recharging mobile phones, depositing purposes, transferring purposes, and more. They also help rural communities withdraw cash from their bank accounts by utilising the cash people bring for their transactions. They also help people by introducing them to modern and convenient tools like BBPS, now called BHARAT CONNECT to pay online bills. Through these tools, people can pay bills, recharge mobile phones, and handle other transactions digitally. This reduces their dependence on cash and brings ease and convenience to their lives. By promoting digital payments, BANKIT is reducing reliance on cash and creating a more inclusive economy. Digital payments make life easier and open up new opportunities like online shopping or buying insurance easily.
6. Delay in process
Traditional banking in rural India is often slow and complicated, with long lines, lengthy paperwork, and delays in processing payments. Whether you’re transferring money or withdrawing cash, the process can be frustrating and time-consuming.
BANKIT Agents provide a quick and hassle-free alternative. Using advanced tools and secure systems, they make payments reliable, smooth, and fast. From money transfers to bill payments, BANKIT Agents ensure transactions are completed efficiently.
In our busy world, having quick and reliable financial services can make life better, especially in places where such services are hard to find. BANKIT Agents help people in rural areas by offering faster and more convenient ways to manage their money, making their lives easier and more secure.
7. Not accessible post-working hours
For people living in rural areas, it can be challenging to find time for banking because banks are only open during regular hours. This means if they need money or want to pay a bill urgently after the banking hours, they’re stuck.
BANKIT agents are available 24x7, so you can get financial transactions anytime, day or night. Whether it’s withdrawing cash in an emergency or paying a bill at the last minute, BANKIT Agents are always there to save you. Their constant availability makes them an important and helpful part of their communities.
Why Becoming a BANKIT Agent is a Smart Move
If you’re a small business owner or someone looking to make an extra income, becoming a BANKIT Agent is an excellent opportunity. Here’s why :-
- Help Your Community: By providing basic banking services, you can save your neighbors time, money, and effort
- Gain Recognition: As a BANKIT Agent, you’ll be seen as a trusted financial expert in your area.
- Earn attractive Commissions: BANKIT offers high commission rates, so you can earn more on each transaction.
- Boost Your Business: As a shop owner, being a BANKIT Agent can drive more foot traffic to your store and help to grow your business.
Join the BANKIT revolution today and become a change-maker in your community!
By becoming a BANKIT Agent, you’re not just running a business—you’re contributing to the financial inclusion of your community.
