Funded by Omidyar Network, a variety of research programmes are underway. The first report of the series on Dormancy in No Frill Accounts (NFA) has been published, and the second in line is Cost and Willingness to Pay (CWP). CWP is a study conducted by MicroSave in the states of Rajasthan, Tamil Nadu and Uttar Pradesh. This multi-region study focuses specifically on the services business correspondents provide in rural areas - and whether or not this particular customer segment thinks the greater convenience and other potential benefits are worth paying for.
Some of the key findings are: Close to 70% of study participants indicate willingness to pay for BC services. Bank transactions are difficult for most respondents. Travel to and from the branch, direct and indirect costs incurred, wait time while there, literacy barriers, poor IT and other back-office support, and unhelpful bank staff are the reasons they cite for preferring the local and more personalised convenience of business correspondents.
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