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Making it easier to apply for a bank account: a study of the Indian market

Author

Listed:
  • Demirguc-Kunt,Asli
  • Klapper,Leora
  • Ansar,Saniya
  • Jagati,Aditya

Abstract

This paper draws on new individual-level survey data from India to study the costs of opening an account and the efficiency of the account application process. The data show a recent increase in account ownership, especially by women and poor adults. The data also suggest that India's flagship financial inclusion program, the Jan Dhan Yojana scheme, has made it easier to get an account, through lower costs and greater ease of applying. Yet despite the scheme's initial successes, people who wish to apply for an account continue to incur a range of costs. The survey results suggest several recommendations that could improve the account application process and increase ownership and usage of accounts.

Suggested Citation

  • Demirguc-Kunt,Asli & Klapper,Leora & Ansar,Saniya & Jagati,Aditya, 2017. "Making it easier to apply for a bank account: a study of the Indian market," Policy Research Working Paper Series 8205, The World Bank.
    • Handle: RePEc:wbk:wbrwps:8205
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    Citations

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    Cited by:

    1. World Bank [WB], 2018. "The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution," Working Papers id:12735, eSocialSciences.
    2. Maura Francese & Delphine Prady, 2018. "Universal Basic Income: Debate and Impact Assessment," IMF Working Papers 2018/273, International Monetary Fund.
    3. David Mhlanga, 2020. "Industry 4.0 in Finance: The Impact of Artificial Intelligence (AI) on Digital Financial Inclusion," IJFS, MDPI, vol. 8(3), pages 1-14, July.
    4. Pranab Kumar Das & Bhaswati Ganguli & Sugata Marjit & Sugata Sen Roy, 2018. "The Dynamics of Finance-Growth-Inequality Nexus: Theory and Evidence for India," CESifo Working Paper Series 7429, CESifo.
    5. Saibal Ghosh, 2020. "Access to and use of finance in India: does religion matter?," Indian Economic Review, Springer, vol. 55(1), pages 67-92, June.
    6. Asli Demirguc-Kunt & Leora Klapper & Dorothe Singer & Saniya Ansar & Jake Hess, 2018. "Global Findex Database 2017 [La base de datos Global Findex 2017]," World Bank Publications - Books, The World Bank Group, number 29510.

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