How To Digitalise Those Whose Skills Are Not Portable and Work Is Proximity Based?

Several Founders, Co-Founders, CXO Bankers, CXO Fintech professional & people who participated in the ePanel discussions:

Mr. Gopa Kumar, Former President, and CEO, ICICI Securities Inc
Mr. R Bhaskaran, Former Chief General Manager NABARD
Mr. Raghu Veer Dendukuri, Founder, Ideal Nation, and Solution Architect at Invincible Tech Systems Inc.
Mr. Rakesh Shetty, Product Head Micro Loans, Fortune Credit Capital Ltd
Mr. Fareed Jawad, VP-Product Development, Spreedly
Mr. Vikas R Panditrao, Co-Founder, Forum of Industry and Academic Knowledge Sharing (FIAKS)
Many other CEO/CXO Bankers & Fintech professionals on FIAKS Forum requested to remain anonymous

Nandan Nilekani’s speech on India’s Inclusion inflection calls attention to the point that it’s time to create community-centric digital livelihood ecosystems that empowers a billion Indians. Isn’t it sad that the entire digitalization and start-up story is only targeted towards the same 100 million population that has 90% of India’s disposable income? What about the rest of 1100 million people?

Well, village centric economy has a lot of potentials and while the factory approach made us embrace certain aspects, irrespective of local source availability, we need to embrace our age-old idea of self-sufficiency with respect to village economy, that makes things work in a mutually interdependent way and within the village.

So, don’t you think Co-operative banks can play an important role here to reach those 1100 million people?

Co-operative banks surely have a role, as they focus on the limited target area, where they can holistically serve their userbase with solutions that use- local Language along with English and other regionally speaking languages and address working solutions in a digital way.
Co-operative banks are needed as they finance a large number of farmers and SMEs. Of course, the government should not interfere in the affairs of co-operative banks.
A member share information on the size of cooperative banking in India. Source RBI ^[2]