Enhancing Collection Efficiency in Rural Rajasthan for a leading Public Sector Bank

Case Studies

Rajasthan was a major focus area for the PSB especially with respect to Kisan Credit Cards (KCC) where they were witnessing NPA issues. This state is India’s largest state when it comes to land area, and has different crop production across different regions making it a dynamic case.

Problem

Objective

With the aim of enhancing collection efficiency and overcoming challenges faced by rural farmers in Rajasthan, we pursued a dual methodology.

Data Analysis

Analyzed feedback from 1015 customers using spocto’s analytical tools, including the spocto score and recommendation guru.
Primary Research: Conducted extensive field research, engaging with 45 end borrowers in Jodhpur, Jaisalmer, and Sri Ganga Nagar.

Problem Statement Identified

Linguistic Barrier:
Communication hurdles due to diverse languages spoken.
Misinformation:
Inaccurate understanding of credit terms and processes.
Informal Credit Economy:
Dependence on informal lending channels.
Generational Gap:
Varied payment preferences across generations.

Our Solution

Bhaasa:
Introduced “Bhaasa,” a multi-linguistic conversational bot designed to bridge the communication gap between lenders and borrowers.
KCC Educational Series:
Addressed misinformation by launching an educational series about Kisan Credit Cards (KCC), providing clear information on its benefits, terms, and application procedures.

Result

Linguistic Barrier:
Bhaasa improved regional language interactions, enhancing engagement.
Misinformation:
KCC series clarified concepts, empowering farmers with accurate credit information.
Informal Credit Economy:
Awareness reduced reliance on informal sources, curbing exploitation risks.
Generational Gap: Tailored payments suited different age groups, enhancing convenience.