We are what we repeatedly do. Excellence, therefore, is not an act but a habit and Aaum has a habit of always being excellent. The company Aaum, founded by IIT alumnus at IIT M Research Park, have grown steadily form 2008, May 19 as Aaum Research and Analytics till date, and has given rise to a subsidiary company called geniSIGHTS. The soft launch of geniSIGHTS was celebrated at IIT Research Park, Chennai on 2016, June 10.

The event started by 3 PM, warmly hosted by Ms Parvathy Sarath, Director and Data Evangelist of Aaum. With the pride of Aaum’s existence over nine years, Parvathy introduces the guests about Aaum and its journey along time- from a 1 to 25+ member company, from an IITM RP incubate to a successful graduate. She revealed the creation of Aaum as a company by two IIT Madras alumni, a set of first generation entrepreneurs with a passion for analytics and a zest to make a significant contribution to the analytics industry. Parvathy counted upon the moment as a life giving event to the dream project geniSIGHTS for many at Aaum. She construes evolution of geniSIGHTS as a concept three years ago due to the need to enable companies with business insights varying from basic reporting/ dash boarding capabilities to advanced analytics functionalities, by the research wing of Aaum who consistently worked to transform this concept to a bleeding edge, technology agnostic, affordable and customizable platform that helps the business scale analytics as per their requirements.

Ms Parvathy took the fortuity to thank all the customers, investors, advisors and the team for their belief, support and contribution in accomplishing geniSIGHTS. She cordially welcomed Mr Mohan Narayanan -Founder and CEO of  Kubos Consultancy Services, Srinivasan (Vishy) Viswanathan -Co-Founder at Ultimate Business Advisors LLP, Sriram Sampath -Vice President at Servion Global Solutions, Vijay Babu -Managing Director of Start Smart Labs India and Sridharan J S Co-Founder & Sr. Vice President of geniSIGHTS Pvt Ltd to light the lamp of glory and inaugurate the ceremony for a success ahead, for there are many events in the womb of time, which is to be delivered by geniSIGHTS in journey forward. Later the session was handed over to Mr Rajesh Kumar, Founder and Managing Director of Aaum Analytics.

“The woods are lovely dark and deep. But I have promises to keep, and I have miles to go before I sleep.”                                                                                                                        - Robert Frost

With this awakening quote, Mr Rajesh impelled the session on introducing geniSIGHTS, by thanking his team for their dedication and hard work. He extended his gratitude to IIT M, Prof Ashok Jhunjhunwala, Mr Murugappan of Murugappa Group, Usha Narayanan, Mohan, Vishy, Coustomers, and Partners for their continuous support. Later he familiarized the guests about geniSIGHTS and clarified how geniSIGHTS could be utilized by organizations at an affordable and customizable platform that helps business scale analytics as per their requirements to integrate specific analytical solutions for a firm. GeniSIGHTS being specialized in building end-to-end BI/Analytics practice for customers, Rajesh vows that it could be deployed in customer premise or in a public or private cloud. With minimal engineering and maximum customization- even during the product implementation, Mr Rajesh claims that geniSIGHTS could be genuinely implemented, even with the provision of integrating to an already existing BI/Analytical platform.

Mr Rajesh revealed his thoughts on different platforms that geniSIGHTS possess as 4Cs– ‘Connect’ to extract, transform and load the data, ‘Customize’ based on the needs, ‘Compute’ the analytical engine and ‘Consume’ the analytical insights across seven domains such as retail, etail, travel, finance, telecom, bigdata and business analytics with more than 56 solutions.

Following Rajesh’s session, an activity named “geniConnections” was conducted to uplift the guest’s understanding about various features of geniSIGHTS in a form of a contemporary game instead of traditional approach. Being coordinated by Mr Ashwanth, the game had pictures that very indirectly depicts various glossary of analytics, which pulled out the guests to guess and decrypt the relation of pictures creatively.

The guests and dignities were honoured and distributed with mementos, later all were lead to pantry for celebrating the moments by cutting the cake. It was an emotional and cloud 9 moment for Rajesh, who had cut the geniSIGHTS concept cake on behalf of Aaum family. While the guests were enjoying the treat, the team went around and interacted with the dignities and the hall was energised with happiness and joy.

To have more clarity on how geniSIGHTS have its way in resolving the problems faced by companies across various industries, an interactive activity was harmonized by Mr Ashwanth, were the guests was proposed with various problematic situations which companies of respective industry comes across and in return they were to infer and throw back their insights and suggestions to solve the issue.

Later, Ms Sri Nithya and Ms Pavithra explained the geniSIGHTS way of solving the same with the aid of geniSIGHTS website. The session was concluded by Ms Parvathy, who briefed the traits and components of geni website.

Mr Sridharan J S, Co-Founder & Sr. Vice President of geniSIGHTS Pvt Ltd, was privileged to give away his gratitude through his vote of thanks for the gathering. Being a witness throughout the travel of geniSIGHTS, right from identifying the need to create a platform that would render insights, he has been around, when the challenges were thrown at the team for meeting critical requirement set to international standards, been along when the team discusses the wanting to find a name and brand ambassador, it was indeed a gracious and heart pounding moment for Sridharan. He took the moment to thank Mr Mohan, Mr Vishy, Mr Sriram of Servion, and Mr Vijay Babu for lighting the lamp, Miss Parvathy Sarath for welcome address and introduction of Aaum and geniSIGHTS, Mr Rajesh Kumar for presenting geniSIGHTS and giving useful details that evaluates the product and Mr Ashwanth for hosting uniquely wonderful event in engaging the audience.

A circle of strength, founded on faith, joined in love and kept together as family –The Aaum

family members swish wands to “Experience the Magic of Insights” for all.

For experiencing the magic of Insights please visit: http://www.genisights.com/

Does data science bring value to your organization?

Whether we like it or not, data science is going to bring another transformation in the day-to-day activities. There is a wide perception that data science is applicable for bigger organizations and not for small and medium businesses. Of course, there are successful early adopters. A few have burnt their fingers with analytics adoption. Money ball showcases how Billy bean uses data science effectively for making a good team to compete in base ball. Of course, there are several criticisms for the same strategy in other games. The success requires careful adoption to the business context.

The analytical adoption is getting more matured. It is time for the companies to realize quick data driven insights, if they want to achieve a competitive edge over other companies. How should one adopt the analytics strategy? Come and attend our analytics event “Analytics for CXO” -a must not miss program for the CXOs who want to adopt/implement analytics for their organization.

1. Update yourself with bleeding edge analytics developments happening in the industry
2. Customized Analytics roadmap specific to your organization/department
3. Consultation with industry experts – subject to prior appointments.
4. Practical use cases with analytics implementation, benefits and value
5. Focused group discussions on the benefits , challenges, issues, faced by the organizations
6. Learn best practices from the industry, academia and peers
7. Analytics Jumpstart Kit – Small data or big data. This Kit is definitely a must have for your organization.

Registration @ Explara -  https://in.explara.com/e/analytics-for-cxos
Date: Saturday, November 21, 2015, 9:00 AM to 5:00 PM
Venue: IIT Madras Research Park, Chennai

The 2015 DATA SCIENCE Conclave, took place on February 20-21 at Hotel Rain Tree, Chennai and featured keynotes, panel discussions, breakout sessions, “lightning” talks, etc.  A special thanks to our sponsors Target India and Contact Singapore for really making this event a grandeur success!!

Agenda for enabling the Data Science Conclave…

Day-1

The Event opened with a featured keynote address by Mr.Rajesh Kumar, the Founder & Managing Director, AAUM Research & Analytics Pvt Ltd.Rajesh emphasized the need for data science practices in organizations and how insights from datascience is transforming the data-driven world.

Taking it forward, Ms. Parvathy Sarath, Director & data evangelist at AAUM, with extensive experience in finance, retail, social media, human resource and Government, opened a featured presentation on Data Science –learn, develop and deploy with her Lead Data Scientist Mrs. Praveena Sri. They explained the importance of R-tool, understanding the data through R-tool, Data visualization and Predictive analysis and how beneficial it could be for an organization in the longer run.

In the second session of Data Science-learn, develop and deploy analytics in your organization, Mr.Rajesh Kumar and Ms.Parvathy Sarath dealt with the topics like Logistic analysis, Multivariate analysis, Decision trees using R-tool.
Mr.Bala Chandran, a Hadoop developer with AAUM, had come up with the presentation on Big Data Analytics, Explosion of Big Data, tools and techniques involved in exploding Big Data.

Mr.Elayaraja and Mr.Sankar Sundaram of Mobius Knowledge Services came up to integrate analytics to Big Data. Their agenda included Web evolution, Web Pattern matching, NoSQL and Probabilistic models.

Mr.Bala Chandran from AAUM Research and Analytics, opened a featured presentation on Cloud for Data Science. He covered various topics like computing platforms, cloud services, Cloud Deployment tools.
These sessions brought together selected experts from around the corporate world to take opportunity of presenting their knowledge leading to a better understanding of specific challenges and opportunities for Data Science in the sectors of society and economy.

The last session Do it Yourself, built on conversations and work done in the previous sessions of the day, helped the participant to test his understanding on Data Science and ensured inclusion and broad participation so that everyone gets benefited from the conference .

Day-2     

In parallel fashion, the second day events moved away from broadcast formats, that treated everybody the same and evolved towards discussions that allowed the individual participants to learn what they needed to learn, as well as connected with peers and peer organizations that have real value for them.

The Day was started by Mr. Naveen Gainedi, the senior group manager of Analytics and Reporting of Target India, had come up with the Data Science practices of their organization. Their presentation facilitated focused discussion on the Elements of a Data Science Practice and Building Data Science teams.

To look at the other side, how a startup company has built Data Science Practices in their organization, Mr. Velumurugan, a head of Big Data Analytics Practice of Altimetrik had come up with resources, challenges, processes and frameworks of establishing data science practices.

The Panel Discussion-1 on Technology Spend was headed by Ms. Bharathi Muthu, the General Manager of IBM software market management for South Asia. She did an exceptional job with bringing the delegates in the panel discussion and managed to keep them engaged throughout the entire talk. The other panelists are the delegates from top companies like Mr. Nitin Chaudary, the head of Products and Technology function of Samunati, Mr.S.M.Bala Subramaniyan, Mentor and Strategic Advisor and Mr.Satya, Manager at Hp Analytics.

The Panel Discussion-2 on Predictive Analysis was headed by Mr.Naveen Gainedi of Target India. He moderated the panel discussion along with other three panelists Mr.VRK Rao from CTS, Mr.Karthik Karunakaran from Mobius, Mr.Velmurugan from Altimetrik and showed how to ultimately engage the participants and organize a captivating panel.

The Panel Discussion -3 on Machine Learning was headed by Ms.Madhumitha from Wikimedia. She clearly showed that herself and the panelists, Prof.Ronojoy Adhikari from Institute of Mathematical Science and Mr.Dorai Thodla, a chief mentor at Build Skills, made the participants become active contributors in the discussion.

AAUM, Target and Mobius teams came up with their real-time case studies to create classroom environment for group analysis and discussion, while simulations immersed participants into an experiential situation.

To summarize the entire two day event, an Insightful interactive session was handled by Mr.Rajesh Kumar and Mr. Bala Subramanian to improve learning, interaction and engagement among the participants.

Finally, the time to the end of the conference!!
A deep sense of appreciation to all the speakers and participation was given by Mr.Sridharan, Vice President of AAUM Research and Analytics.

It was indeed a great event that had like minds gathering in one place and ultimately having the common goal of learning, Developing & Deploying Data Science in the Organization.

This event was fittingly an event focused more on evolving Data Science as a trend setter for future Analytics and to change the entire way of looking at business excellence in rather more insightful way.

With more & more events to come, it definitely paves way for a new era of Analytics for business..!! An Insightful Business..!!

Ms. Parvathy Sarath, Director of Aaum Research and Analytics introduced various eTail topics to the business firms. The various eTail topics discussed are

• Monitoring campaign Performance
• Price sensitivity analysis
• Optimization techniques
• Social media analysis
• AB testing
• Recommendation
• Market mix modelling
• Sales attribution analysis
• Heat map generation techniques
• Loyalty measurement and analysis and
• Dynamic Pricing

The meet up spanned for two hours. The participants showed lot of interest in understanding the concepts and to see how those techniques could be adopted for their business. Click here to view the presentation delivered on our geniSIGHTS solution. The participants showed keen interest in attending future Meetups conducted by Aaum.

The income variables received from surveys will typically shows a relatively very high proportion of abnormal values due to insertion of false information, substantially reducing the number of valid cases in multivariate statistical analyses, etc. Such a discrepancyon a key predictor variable like income variable is undesirableas it alters the modeling analysis, insights. In this blog, we shall focus on an effective alternative mechanism to qualify “the wealthiness” of the customers based on their assets.

The survey questionnaires can be effectively constructed to collect information on household assets with the aim of obtaining more precise measures of economic well-being on the largest possible proportion of respondents. Indeed, the non-response or fraud rate associated with the household asset items in the application is much lower than the one for the income variable.

The estimation of relative wealth using Principal Component Analysis (PCA) is based on the first principal component. Formally, the wealth index for household is the linear combination, the first principal component variable across households or individuals has a mean of zero and a variance of λ , which corresponds to the largest eigenvalue of the correlation matrix of x .

The first principal component y yields a wealth index that assigns a larger weight to assets that vary the most across households so that an asset found in all households is given a weight of zero . The first principal component or wealth index can take positive as well as negative values. PCA analysis was performed on the asset information collected from the respondents. Each applicant was scored from 1 to 5 based on the computed wealth indices. The score 1 denotes the bottom 20 % or otherwise the poorest of our applicants. Similarly the top 20 % were denoted by the score 5 who were our richest applicants. use of PCA for estimating wealth levels using asset indicators to replace income or consumption data. A relative wealth index was computed using the methodology described based on the following items asked in the survey:

The above exhibit is the normalized representation of the data. The analysts can now calculate the calculate principal component loading value that can be used as effective wealth indicators. The below exhibit qualifies the effectiveness of these indicators on the income level. The plot showcases the wealth index computed for the individuals who have undergone the survey at household level. Based on the wealth indicator computed from the asset analysis of the individuals, they have been scored and ranked as “Poorest”,”Poor”,”Average”, “Good” and “Richest”.Do note that the average income level rises as we scale to higher wealth indicator groups. This technique not only validates the income levels but also provides an alternative powerful variable for statistical analysis.

Click here to view a case study demonstration on Validating “income levels” based on asset based “wealth indicators”.

The key delegates varied from jewellery, food and beverages, multiple chain retail stores, travel services providers, FMCG manufacturing companies etc.

The workshop has three inter linked session on

1. Automated Reports using BIRT for easier day to day operations and to achieve data driven insights
2. Reaping benefits with Analytics – The parameters to ascertain the customer acquisition, loyalty and retention
3. Case studies with demonstration

The first session “Automated Reports using BIRT”, delivered by Mr. Rajeshkumar Founder and Director of AAUM Research and Analytics, an IIT Alumnus, explained the evolution of reporting, need for analytically enriched reports, and focused on introducing Eclipse BIRT, comparing  the market available proprietary products vs open source/commercial products, how effective and adaptable BIRT is in organizations etc., He explained some of AAUM developed BIRT reports from our client engagements including NREGA.  He concluded showing a demo on Actuate BIRT 360, to showcase the capability of BIRT to the spectators.

The second session “Reaping Benefits from Analytics” delivered by Jyothi Kamakshi and Anjula explained the extensive use of analytics in retail scenario. This session focused on using various advanced analytical techniques in the retail industry and how these can be leveraged to improve your business performance. Some of the topics covered were profiling and segmentation, where you understand your customers better, acquiring new customers, customer churn and retention, dynamic pricing, loyalty management and finally concluded with making the best advantage of online media and social networking sites in boosting your business.

The last session on “Case Studies with Demonstrations” delivered by Ms Parvathy Sarath showcased live case illustrations from various analytical assignments done by AAUM. It started with highlighting the elementary techniques in retail analytics like customer profiling and segmentation and market basket analysis and moved further on to sophisticated techniques like Cohort analysis and Churn analysis. The session also demonstrated the prospects of introducing dynamic pricing in retail industry. The session ended with emphasize on E-retail and how organizations can enhance their E-retail capabilities through analytics. It also touched upon ‘Ordo Ab Chao’, AAUM’s social media sentiment mining capability and how it can be used at various domains to extract and understand the pulse of the audience in social media

AAUM had an interactive tea break and networked with all the participants engaging in interesting conversations with filling morning snack and good tea in company.

On 20-oct-12, we conducted a work shop on Analytics for Business Success & Excellence which spanned along four sessions with focus on

1.Business Analytics for competitiveness, Innovation and sustainability

2.Reaping benefits from Analytics(case studies with demonstrations)

3.The right reporting Framework, doing it the BIRT way

4.Future of Analytics

The delegates varied from several businesses like finance, automobile, media, BPO, police etc.

The first session, Business Analytics for competitiveness, Innovation and Sustainability, delivered by Dr.Prakash Sai, Professor of Strategy, IIT Madras focussed on how Analytics helps businesses to attain sustainability through competition and innovation.

The second session Reaping benefits from Analytics delivered by Ms.Parvathy Sarath, lead Analyst, AAUM focussed on case studies with live demonstrations of businesses like finance, social media, digital media, retail, entertainment, crime and human resources.

Live demonstrations of market basket analysis, credit scoring, productivity trends of an employee, sentiment analysis of audience for the recent regional movies were shown. The movie meter dashboard helped the audience in easy visualisation of how the predictions of post release sentiment on the movies was in sync with pre release insights.The Analytical Process Model framework that the aaum team developed for the retail industry depicted how to achieve the retail process maturity.  Targetting the right segment of the customers for promotional effeciency through slicing and dicing of data was highlighted using the Entertainment case study.  The KPI’s that the AAUM team demonstrated on the HR front focussed on the entire life cycle of the HR organisations.

These demonstrations helped delegates understand how actually Analytics work for their business excellence and how insights can be drawn from the rich in-house data available to uncover business strategies they can deploy.

Third session delivered by Mr.Nilesh Karnia, senior consultant, Actuate with focus on The Right Reporting Framework, doing it the BIRT way was about the sophisticated reporting tools and how end business user can gain advantage by using the right reporting tools.This session focused on right reporting format using BIRT(Business Intelligence and Reporting tool) and live demonstration of Actuate products through one design, one server and one user experience on various platforms with dash board visualizations.

The final session Future of Analytics, Business Trends & Technology delivered by Mr.Rajesh Kumar, Manging Director, AAUM. The session is on the importance of big data and why it is high time for organisations to adopt big data analytics using sophisticated technologies like Hadoop, Parallel processing and Cloud computing.

This session started with an interesting video of how analytics helped Venky, CEO of Kolkata Knight Riders in choosing his team members. The delegates were awe-struck when they saw that 12 GB of data could be analyzed within seconds. Further more, there was a real time demo on how to maximize the efficiency with the available resources using parallel processing. Cloud computing, one of the most efficient storage and computing framework that has been developed recently, was also illustrated using a real time demo. The demo focussed on deploying analytics techniques on the cloud and stressed on its advantages of freeing business people from the hassles of buying, maintaining and managing the resources.

The session ended on a serious note of making better bussiness decisions using big data with powerful analytics. As Charles Darwin’s famous quote says, “Survival of the fittest”.In the current scenario, it is not only the survival of the fittest, it is the survival of the smartest.

The collected data of 1000 SHG’s was analysed to develop scoring algorithm using various analytical techniques like logistic, CART, and k-nn from a`training’ sample. The algorithm was applied to develop credit scores. Credit scores were devised for each group. The model was validated with `testing’ sample. The training given to SHGs was to devise credit rules and validate with bank/MFI stakeholders. The data captured was functionally built in SHG mobile sets to deliver quick scoring and compliance.   It is easy to use forms enabled in the mobile phones to devise credit scores and usage of mobile phones has saved considerable efforts in the SHG account management.

The project has served SHG women to get used to technology through mobile phones. Aaum’s solution has addressed the specifics of group (not just an individual), credit score the group and finally has helped the banks, government, and NGOs to give loans and grants to the SHGs.

The exclusive research paper titled “Technologies Services and New Approaches to Universal Access and Rural Telecom” submitted to ITU in November 2009, by Prof. Ashok Jhunjunwala, Rajesh Kumar, Sonali Singh, Suma Prashant for International Telecom Union (ITU) highlighted accelerating mobile adoption in rural India. This has been a great inspiration to take up this project.

The benefits of SHG interface are:

• Grading was done by scoring algorithms on the data captured. No need for financial institutes/NGOs to perform this task.
• Simple process with no requirement to travel physically to SHG/NGO locations.
• Easy to use forms enabled in the mobile phones.
• Handling of accounts, books has saved considerable efforts in the SHG account management.
• Different level of access to different users.

This project has created a big socio-economic impact by strengthening the SHG-Credit linkage by connecting NGOs focusing on women development, Micro Finance Institutes (MFIs), banks, cooperative societies, and the state government.

Financial inclusion or inclusive financing is the delivery of financial services at affordable costs to sections of disadvantaged and low income segments of society. India has the second highest number of financially excluded households in the world. Approximately, 40% of India’s population have bank accounts, and only about 10% have any kind of insurance cover, while a merger 0.6% have non-life insurance cover. Tamil Nadu is very much lacking behind in the wage disbursement scenario under the NREGA. This is a very serious bottleneck to the progress of the people as financial inclusion through banks is not being supported.

AAUM partnered with NABARD and Suryan FM to roll financial inclusion campaigns. The livelihood team focused on basic financial inclusion strategies during the initial stages and other allied financial strategies at later stages. Partnership was also established with the lead bank, local banks for knowing their existing initiatives/thrust areas to chalk out mutually beneficial programs.

The financial inclusion awareness in the first month was focused on:

1. Focus on opening bank accounts and its advantages
2. Availing of savings, credit/debit access, overdraft facility
3. Cheque facility
4. Awareness of insurance products, etc.
5. Payment and remittance services

Allied financial inclusion strategies for the next month focused on:

1. Financing to agriculture  (Loans, Govt schemes, etc)
2. Jewellery loan
3. Low cost financial services
4. Kissan Credit and debit cards access
5. Financial advice
6. SHG/JLG focus and awareness of various financial products
7. Access to financial markets
8. Micro credit during emergency
9. Entrepreneurial credit

8 themes were identified and the jingles were developed with a focus on getting the attention of the common people.  The team consulted NABARD, local banks to align the thrust areas in sync with the overall financial inclusion focus. AAUM came up with an effective strategy to involve famous mimicry artists to voice on veteran film actors/actress for the financial inclusion campaigns. Mimicry artists from the “AsathaPovathuYaaru” a popular TV show of SUN TV were hired to create jingles. 8 themes were identified and the jingles were developed with a focus on getting attention of the common people. The main important topics on which the information was delivered were: Savings, RD/FD, loans, branchless banking, remittance, micro insurance and micro pension. In addition to the commercials, 30 RJ (Radio Jockey) mentions were broadcasted during the two month campaign period. These RJ mentions were live on `AIR` and were broadcasted once in two days.

After the campaign roll out, a small survey was conducted with the local villagers in 20 Panchayats to gauge the effectiveness of the campaign and arrive at appropriate strategies.

Jingles: (Audio file)

http://www.livelihood.aaumanalytics.com/audio.html

Below are the main important head under which the information was delivered.

1) Savings

• Savings accounts allow you to keep your money in a safe place while it earns a small interest each month
• These accounts have nil or low minimum balances and charges exclusively for rural
• Interest rate on savings bank accounts minimum of on a daily basis
• Savings as an habit would provide sustainable path for financial inclusion
• Daily savings of 35 rupees would help you accomplish Rs.1000/month.
• Can avail the facilities of cheque book, ATM card, Internet banking, Mobile banking
• Stress on the operation of the account and not having an idle account
• Contact any neighbourhood bank manager with address proof & ID proof

2) RD/FD:

• Simple investment mechanism for planning the future financial requirements and needs
• Minimum 1 time investment (Fixed deposit) or regular multiple investment (Recurring deposit) as per your earnings and time of requirement (e.g. after 3 months or above)
• Higher interest rate than savings for planning your goals (e.g. for sons education, daughter marriage)
• Contact any neighbourhood bank manager with address proof & ID proof

3) Loans:

Agriculture loans

• Crop production , horticulture , plantation crops, farm mechanization, land development and reclamation, digging of wells, processing of agri-products, finance to agri-input dealers, allied activities like dairy , fisheries, poultry, sheep-goat, piggery and rearing of silk worms
• And other loans including
• Loans for petty shop, flower vendor, tea shop, etc. Emergency/Personnel loans, Jewel loan, SHG loans and several other classifications for financial needs
• Low interest rates from banks.
• Good repayment habits would ensure higher quantum
• Contact any neighbourhood bank manager

4) KCC (Kissan Credit Card):

• Assured access for farmers credit requirements subject to timely repayment
• Flexibility to draw cash at any time and buy agriculture inputs as per the need of the farmer.
• Flexibility of withdrawals from a branch other than the issuing branch at the discretion of the bank.
• Provisions for crop insurance if loan crop loans availed under KCC, provisions for life insurance for the farmer.
• Contact any neighbourhood bank manager

5) Branchless Banking:

• Business correspondent model  in remote villages where formal banking is not feasible.
• Banking facilities provided by banks representatives on behalf of banks to provide basic financial services like savings, minimum withdrawals, overdraft facilities in your village itself!
• All your transactions are settled at your bank at the end of the day and be assured that you are dealing directly with the bank and not with the local representative. Sophisticated technologies like rural ATM, smart cards, kiosks, mobile payment modes are leveraged for financial services in rural
• Contact your neighborhood bank whether you can avail this features

6) Remittance:

• Availability of money at the right time is very critical for sustenance. Do you know that Fast and easy mechanism to transfer your hard earned money to your family members through remittance facilities is offered by your neighborhood bank.
• Remittance through bank would further help to leverage other banking facilities like savings, ATM withdrawals, cheque book facilities, overdraft facilities, loan for your future requirements, insurance etc.
• Contact any neighbourhood bank manager

7) Micro Insurance:

Protect your investments by very low premium as per your comfort

Agri/Crop insurance

• Crop insurance to protect against hail, drought, and floods, or the loss of revenue due to declines in the prices of agricultural commodities. Insurance for farmers are also available including the crop.

Livestock Insurance

• Protect your livestock against death due to accidents including fire, lightning, flood and cyclone or disease contracted , Permanent Total Disability due to total incapacity to conceive or yield

Janashree bima Yojana: (Group insurance for poor and vulnerable groups)

• Provides life insurance protection to people who are below poverty line or marginally above poverty line. Persons between aged 18 years and 59 years and who are the members of the identified 45 occupational groups are eligible to be covered under the Scheme i.e. rural poor , SHG’s, beedi workers, fishermen community etc

Health insurance

• Health micro insurance schemes for improving the access of health care to poor families. The scheme provides for reimbursement of medical expenses towards hospitalization floated amongst the entire family, death cover due to an accident to the earning head of the family and compensation due to loss of earning of the earning member @ very low premium exclusively designed for BPL families.

Contact your local bank manager to know the premium rates for each insurance.

8.) Micro pension:

• Low income informal sector workers to build up savings for retirement
• Micro pension scheme provides security to poor and middle-class labourers like vegetable vendors, rag pickers, hand-cart pullers, bidi workers, construction workers, domestic helps, agriculture workers, garment workers.
• Do you know that very little contribution of Rs 50 a month in a pension account by eligible people can come as a security at an old age.
• Contact any neighbourhood bank manager