International Journal of Commerce and Management Research

Authors
Premjeet Shekhar

Abstract
This Article tries to investigate the new service approach which is prominently applied now a day by several banks of India to rich their reach to the society, which is considered as one of the banking strategies to render financial products and services for unbanked population at doorstep. This paper includes the difficulties confronted by banks to reach. The required references are taken mostly from secondary data. The achievements of Banks in implementation of new business models to transform unbanked to banked were found to be consistent in the maximum area. Settlement of transacted accounts on the same day to bank, Outreach and technological glitches were found to be major difficulties faced by the Business Correspondents models in providing banking products and services to the unbanked. Mobility and customer convenience seen as keys to growth, banks are busy exploring new technologies. Branchless banking is a modern mechanism to facilitate financial services in developing regions. There is a considerable growth taken place in branchless banking services in India, despite this, branches are unlikely to die, despite ATMs, laptops and smart phones becoming primary platforms for daily banking. Branches will continue even after the new modes spread to rural areas. Through this paper an effort has been made to understand the Branchless banking, its performance, cost structures and issues and challenges.