Rakesh Wadhwa:

There's so much buzz about technology, digital transformations, mobile phones, in the rural, India, internet penetration's. How do you see in your field of this is really helping change the game or helping you, with this agenda of financial inclusion and financial management in rural areas.

Bindu Ananth:

It is an amazing opportunity. Technology has to be thought of as part of the solution, the idea is not to start with, mobile banking, but to say in what ways can that help me accelerate? So the main kind of issue is around costs. It's very expensive to do a 10,000 microloan because there is a lot of extensive due diligence involved, assessment, so on and so forth. The real opportunity is to think about how can we use operations. For example, there's a lot of inefficiencies, both in regular banking, as well as rural in which people are filing on multiple forms, doing KYC multiple times. When a customer walked in and done KYC for a loan. And then she comes back to this later and says she wants to buy a rental. Typically you're making her do the whole thing again. Developments like EKYC et cetera, amazing in all of these contexts, because it significantly reduces the cost of acquiring the customer of handling the customer. And of course, what we hope that means is that we can reduce, the price, that the customer is facing. Loans are priced between 18 to 24%. That is pretty high relative to what you and I can access. And a lot of it is operations. So that's exciting. And there's also just more ways to deal with the customer. You can sell the customer, but even when the branch doesn't make sense during this whole COVID for example, because we've been able to work with other enabled peanuts services, we said, let's make sure that, people can access the subsidy that the government will be paying out rather than go far away and stand in a line in front of a bank branch for hours and hours. Can we make that subsidy available, and due to the initiatives like, AADHAAR enabled payment services, it's indeed possible that you can access the cash in your account at any outlet and you don’t have to go to any branch.