Retail banking in Africa is very weak. You can't go to a village and get money from an ATM or visit a branch of the bank. So people have to use the Internet.
The best stock a man can invest in, is the stock of a farm; the best shares are plow shares; and the best banks are the fertile banks of a rural stream; the more these are broken the better dividends they pay.
We are extremely focused on building some of the assets which are going into mid-India, semi-urban and rural, and that's our DNA. We are building a retail bank, and a lot of the deposit base is still in urban India.
With post offices and postal workers already on the ground, USPS could partner with banks to make a critical difference for millions of Americans who don't have basic banking services because there are almost no banks or bank branches in their neighborhoods.
Country banks are more flexible in their lending policies than their city brethren are.
India did not innovate with the ATMs. But when we brought ATMs into India and made the machines talk in 15 regional languages to the people in rural India, we got millions of transactions on the ATM.
In Mexico, a network of government-operated rural convenience stores is offering banking services to rural communities.
The farmers in Kansas are sorely in need of a credit system meeting their special requirements, that they may more readily obtain money on short or long time for their farming operations, or that they may become owners of farms.
Because SBI is so large, serving customers in India's big cities and small rural villages alike, it has a pressing need for better tools and technology to monitor lending risks.
