Abstract

The case ‘IndusInd Bank’s ‘Bharat Money Stores’– Enabling Financial Inclusion for the Masses’ is about the business innovation of IndusInd Bank’s ‘Bharat Money Stores’ (BMS). The case discusses the financial inclusion initiatives of BMS to enable a seamless transfer of subsidies and the provision of banking services to unbanked people in the villages and towns of India. The case dwells upon the background of BMS and also discusses the need for financial inclusion for the unbanked section of society in India. The business model of BMS is discussed in detail and the reactions and comments of the merchants and beneficiaries are also put forth in the case. The case ends with the future plans of BMS and its foray into newer services for the benefit of its customers. It remains to be seen whether BMS’s innovative business model will continue to provide financial inclusion for the masses to bring them into the mainstream of society.

Learning Objectives

The case is structured to achieve the following Learning Objectives:

• Analyze the need for financial inclusion in India
• Understand the importance of financial inclusion for economic development and the upliftment of the masses
• Evaluate the business model for financial inclusion

Keywords

Financial Inclusion; Financial Services; Rural Distribution Service Points; Financial Inclusion Business Model; Financial Inclusion Elements; Mobile Financial Services; Business Innovations