RURAL BANKING IN INDIAINITIATIVES TO BE TAKEN BY PUNJAB NATIONAL BANK

LIKHIL SUKUMARAN

M140041MS

SOMS NITC

Segmentation strategy Location

- Metros- Muncipal Corporation- Muncipalities- Rural India

Occupation- Business person- Salaried class (both govt. & private)- Skilled labours

Age- Senior citizens- Adults- Minor

Lifestyle- People who believes in modern banking with higher set of service i. e.

internet banking (incontact, mobile refill, travel currency card etc.)

Target Market

Rural India 69% of Indian population resides in rural area

Nearly 69% literacy rate

85% do not have a bank account

Rural economy contribute nearly half of the GDP

50% FMCG and other durable companies

2% have to travel >25 km to reach a bank

Out of this 185 million potentially bankable people

PNB has less branches in rural India compared to SBI

Positioning

1. Direct benefit transfer

2. Jan Dhan Yojana3. Increasing role of cash crops like

cotton

4. Seasonal incomes - to seek

and obtain consumption loans

5. Kisan Credit Card, pension,

insurance6. Bank Saathi

ANYTIME, ANYWHERE, ANYHOW banking services

Marketing Mix – Products

Loans

Risk

Mitigation

Products

Insurance

Financial

Counseling

Remittance

Savings

Pensions

Credit

Cards

MARKETING MIX

Promotion

Rural seminars

Adverstisement

Make elders of rural area as agents

Price

Decrease Intreast Rates

Increase deposit rates

Place

Branch Penetration

Bank Saathi

ATM

Door Step Service

Market Research