AU Small Finance Bank introduced "Swadesh Banking," a pioneering initiative poised to transform banking in rural India.
Swadesh Banking vertical has been strategically designed to leverage AU Small Finance Bank (AU SFB) legacy of financial inclusion, deep understanding of the rural and semi-urban markets combined with its 360-degree comprehensive solutions for the farmers, self-employed personnel, and micro enterprises in India's Bharat.
With the introduction of 'Swadesh Banking,' AU SFB will streamline its rural branches, banking outlets, banking correspondents, Financial & Digital Inclusion unit, and Small & Marginal Farmer (SMF) lending units under one umbrella and leadership for the benefit of the Bank's customers.
Swadesh Banking will bring enhanced focus and will lead to customized banking products, services, and operations to meet the distinctive needs and challenges of rural communities and businesses. This will
encompass extending digital solutions to local merchants and shop-owners commonly referred to as micro enterprises, advancing financial literacy and digital inclusion, specialized products for local industries, and
nurturing local economic growth.
Advancing the vision of Digital Bharat, AU SFB has made substantial investments in user-friendly digital platforms, with a specific emphasis on enhancing accessibility in rural areas. Its mobile banking app,
internet portals, and innovative video banking services have not only enhanced the convenience and accessibility of banking operations and transactions but have also maintained a personal touch. In the past
year alone, AU SFB facilitated the opening of over 66,000 accounts through video banking in rural and semi-urban markets, with count of more than 92,000 video banking calls made to cater to its valued
customers.
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