Can open banking empower customers?

523 reads

From: Buisness-standard By Debashis Basu
Recommended by: business-standard


One of the most pervasive services in our lives is banking. Opening bank accounts for the poor was the very first mission of Prime Minister Narendra Modi. “Financial inclusion”, the first step of which is a bank account, is an important agenda of the ministry of finance, Reserve Bank of India, international development institutions, and dozens of non-governmental organisations (NGO), which are marching in the countryside, hoping to bring millions into the fold of formal finance.

And yet, banks, more often than not, harm their own customers. Bank charges are opaque and ...

Unlimited access to all the content on any device through browser or app.

Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.

Pick 5 of your favouri

.....

Trending

273
misner's picture

Dude, Where are my Wheels? Why Networking Helps – Even in the “Hood”

I recently visited Los Angeles and drove through an area that I grew up around.  I was regaling my wife with a story about a job I had in a pretty tough neighborhood when I was in college.  At the end of the story she said, “you have to
303
Harvey Mackay's picture

Resourcefulness = “Of Coursefulness”

A firm needed a researcher. Applicants were a scientist, an engineer and an economist. Each was given a stone, a piece of string and a stopwatch and told to determine a certain building’s height. The scientist went to the rooftop, tied the stone to
350
johnsullivan's picture

Sourcing Is the New Recruiting

I have some excellent news for you. Sourcing is the place to be in talent acquisition today! Recruiting as it has traditionally been known is going away. Increasingly companies are adopting recruitment process automation, and that means that there
399
harvardbusinessreview's picture

How to Prepare for a Panel

Make sure to connect with the moderator beforehand.
376
johnsullivan's picture

HR Roundtable: The Value of a Multi-Generational Workforce

In the classic rock anthem My Generation by The Who, lead singer Roger Daltrey screams, “I hope I die before I get old.” He echoed a sentiment of the times, but he never knew that he was also doing what...
407
adamgrant's picture

Why Women Volunteer for Tasks That Don’t Lead to Promotions

Here’s a work scenario many of us know too well: You are in a meeting and your manager brings up a project that needs to be assigned. It’s not particularly challenging work, but it’s time-consuming, unlikely to drive revenue, and probably won’t be
388
johnsullivan's picture

How Personas Change Sourcing Outcomes

It’s really intimidating to walk into a room full of people you don’t know. We’ve all had that moment of panic, scanning the room for any semi-familiar face and praying it’ll work. Just one person. I personally hate that feeling....
507
misner's picture

Body Language When Networking

Body language can be a powerful attractant or deterrent when it comes to building relationships with others. People assess you visually within the first fewminutes of meeting you.  I’ve been asked a lot about body language by the media over the
401
adamgrant's picture

This 4-Day Work Week Experiment Went So Well, the Company is Keeping It

A first-of-its-kind four-day work week experiment in New Zealand has come to an end after two months, but the trial went so well the company actually wants to make the changes permanent.While lots of research has shown the numerous benefits a