On Thu, Apr 18, 2013 at 7:41 PM, Surabhi Tomar <[email protected]>wrote:
> > Problems faced by them in opening bank accounts esp on KYC front > It is a big hassle to open accounts. Even a bank like SBI which says that > it is 'A bank for every Indian' doesn't want to open accounts of low value. > SBI even has a no-frills scheme for such people where the money deposited > is insignificant. But the local branch managers do everything in their > power to stop the low income people from opening the accounts. > Can you provide more insight as to why the bank employees/managers do not want to deal with the low value accounts? Are they worried that lines would be longer in their branches if these low value accounts were opened? Do they think that dealing with the additional paperwork is not worth their time for these low value accounts? > How do they send money home? > > > I have seen bank transfers into some trusted person's account. So, most > workers out of the village send the money to that person's account and then > that person gives it to the local villagers. > Do postal money orders still exist? Is the cost of sending money through MOs too prohibitive? Thaths (son of a former banker fascinated by this discussion) -- Homer: Hey, what does this job pay? Carl: Nuthin'. Homer: D'oh! Carl: Unless you're crooked. Homer: Woo-hoo!
