There is no one magic wand that will take financial inclusion to the poor across all of India. Various reforms, ideas and innovations are floating in the air. Here are a few that need to be given immediate attention to.
No-Frills Banking
Basic bank accounts with negligible minimum deposit and a set number of free transactions.
India has a dismal record with its no-frill account plan. It did manage to get 25 million people to sign up for such accounts from various banks, but today only 2.77 million of them, or a mere 11 percent, are active. The scheme will begin to work better when more friendly avenues of banking such as kiosks and mobile phones reach a large number of people. Also, the country should encourage a transaction-led model.
Branchless Banking
Spread access to banking through agents called banking correspondents (BCs).
India had tried out pygmy deposit agents in the 1970s but the experience was not good. These agents went about claiming to be bank employees and that led to a lot of disputes and litigation. In India, there is a very large informal system for transactions that authorities have failed to bring into the banking system so far. There is a need for the authorities to establish a strong viable business line for BCs rather than treating it as a mere CSR activity.
Bank without a Bank
Do away with the need to have a bank account. Use the mobile phone company as a conduit for keeping and transacting money.
In India, the RBI doesn’t allow mobile phone companies to operate as banking channels. I agree that there will be security issues but maybe limiting the number of players who are trying to provide financial inclusion seems a bit counter-productive. Think mobile, think M-PESA.
A Super Efficient Lending Mission
Focus on micro credit and allied products. Build enormous scale with supreme efficiency and the power of private capital.
The profit-led model is here to stay. In India, there are over 1,000 MFIs. The long-term success of MFIs rests on being seen as socially helpful. They can’t afford to antagonize the various stakeholders.
The government is making escalating efforts to warn smokers of the fatal consequences of cigarette smoking. Today we see the pretty dramatic scene on the packages which the government hopes will spread the message. Although I believe (strictly my opinion) this is a "gimmick" to make the masses think that our government cares. People already know the truth about cigarettes, overeating, alcohol and other actions that are harmful. You don't need a picture of blood and brains on the ceiling to realize how dangerous guns are.
Based on my observations I was wondering why all of the sudden the graphics on cigarette packs are changing every month. Ok we cannot advertise about tobacco sales, so what can our poor marketer do? Packaging has been used for brand building and sales expansion however unlike other products where one might be successful in making a sale based on good impactful advertising or brilliant packaging (convenient size, shape or just the right colour and graphics) cigarette sells itself solely on its tobacco blend. People’s preference towards a particular brand is mostly based on their preference and liking towards the taste. Price sensitivity is another issue but not the point of discussion here.
Earlier it was mostly "plain packaging". Plain packages increase the visibility, brand recall, and credibility of warning labels. Whilst I don’t dispute the effects of branding but the idea of changing graphics on packages though look lame to me, actually seemed appealing to others. Some even out of curiosity ask for the pack to have a proper look. But never did I witness change in preference because of the package. The only place where brands can showcase itself is probably retail shelves. With rows and columns stacked with multiple brands and blends available, the way a customer will recognize its brands availability will be through the look of the package. Like for example, Wills classic regular in all red, milds in white n red, ultra milds in silver and gold flake in gold (off course what else). In a country like India, cigarettes are available in packs and loose pieces as well. A customer walks into a cigarette shop or a local tea stall and his eyes browses through the rows of display. He spots his brand and viola! Makes his purchase. Incase he is unable to spot it, he will ask for it to the shop owner in doubt (or move on to the next shop/stall.. no dearth of vendors in India)
The point here is that Packaging has some influence on behaviour. If you think that changing the look of the packets will make any difference at all to the demand for cigarettes, you are fairly mistaken. But yes you are offering a refreshing new package once in a while, giving a new feel of using the same product to the customer. On a personal note, I believe the customer would still like to have its stick coming out of a pack that’s been the brand image for long.
7am, 22nd floor in one of the posh localities in the city of dreams, Mumbai. We gazed out at the rising sun as the busy world rushed beneath us. Dreams glittered in his eyes, determination ruled his heart.
Roshan, a model by profession moved in the city six months ago. Having succeeded in his hometown, Calcutta, he dreamed of making it big, making it real. But the world was harder than he ever imagined.
Roshan has it all. The face, the physique, and the guts to face the camera. but what he fails to submit to is his own conscious. "COMPROMISE" is the word ruling the entertainment industry today. You want to walk on the ramp, and everyone from the Designer to the stylist to the producer wants a piece of you. Where will you go? Roshan's experience has been so bitter that he sometimes wants to give it up.
Karishma, another model and a familiar face in the industry has the same say. "It’s safer for the girls now", she says. Karishma is sceptical to appear for any audition, no matter how renowned the agency might be. It’s a matter of 99% luck and 1% talent. “Most of the time its all fixed.” Karishma recalls that in one of the assignment she bagged, she got selected the moment she was entering the building gates. “Though rest of the girls all got chance for the audition, I was selected without undergoing any process.”
Anoop, a master in various dance forms is from Delhi, says his family has granted him a year to try his luck in the glamour city. “I just want fame…Anyhow and in any form," claims Anoop. But it’s your connections that can save a spot for you. For a newbie acquiring a spot is impossible unless you have the right references.
Entertainment Industry in India comprises of Film Industry and Television Industry. The Indian entertainment industry is among the fastest growing sectors in the country. Entertainment industry in India is presently in a consolidation phase as boundary lines between films, music and television are fast disappearing. Skills and resources are being pooled extensively. In terms of employment, an estimated 6 million people earn their livelihood from the entertainment industry and this number is all set to grow. But is this growth owing to a corrupt industry? Media reports are read and forgotten? But the same leaves a lasting impression when inflicted upon your own loved ones. For some, it’s an industry, for some it’s a source or employment, but for some it’s their dream, their life, their aim and only passion in life. How long can a life sustain on dreams, hope and patience? Will dreams shatter in pieces? Are we to remain deaf to the woes and cries?
This article is a narration by artists from the industry. Names changed on request.
So what’s the big thing that every one is talking about these days.. With a movie out, highlighting more on how a small idea can make big, the world around me some how is divided. Yes I am talking about Social Networks. So there are those bunches of people who are fans, social network addicts, spending hours of their lives around social networking, while there is this other set of people total despising the very idea stating: it kills your social life”. The question has been raised, time and again.. Does a social networking site kill your personal life? One of the talk shows I attended on social networking raised this very question. Would like to quote the speaker, Mr. Kiruba Shankar when he questions back the audience.. how many of you have actually discussed in person, a status update, a relation status change or files uploaded by other people in your social networking sites. Not surprisingly, everyone raised their hands. Social networking doesn’t kill you personal life. I feel it actually enhances. Man is a social animal. We all dwell in a society where there is a need to be connected. Social networking provides a platform, where you can interact with new people and old, tell your story and know others. The idea is not to outcast, the idea is to connect. See what your connections are up to. Tell others what you have been doing. Here are the 10 things where social networking affected my life:
Found old friends from primary and high school and its great to be in touch with them. A phone call will take minutes where in a scrap or a post will take just a few seconds. Others pitch in and hence multitasking.
Friends visited a site and uploaded pics. A beautiful site and I pick up my bunch of friends and head on for the journey.
Updated with the status of all my networks, weddings, engagements, change of location, new jobs, change of jobs etc. I know where each and every one of them is.
Never missed a birthday or an anniversary.
More topics to for a chit chat based on others status updates.
Wonderful information packed pages, and I never miss out on any update.
Formed new friends with whom I share similar interest and hence more information sharing.
Sharing my content. I am able to share my blogs, my pictures etc with friends, not only driving more traffic to my sites but also showing people what I am good or bad at (all thanks to their comments, criticism, encouragement etc)
Be it music, videos, articles, photography, personal interests, blogs, your resume or status updates.. you find everything and anything from your best comfort zone.
The last but my favourite.. an activity to kill time anywhere, anytime J
Social networks never kill.. so get social and get networked guys
Posts
