Villagers in some districts of Uttar Pradesh now have a new savings avenue. In addition to funds collected and generated by self-help groups, the Prathama Bank has introduced an innovative Adarsh Deposit scheme that helps the rural population put away small funds without making an effort.

Young bank representatives, known as Adarsh Agents, collect money on a daily basis from pavement vendors, rehri walas (those who sell from carts), small shopkeepers and even women homemakers. The minimum amount is as little as ₹10. A receipt is provided on the spot and the money is deposited in their accounts.

“ Sabse badi baat hai ki roz kuchh na kuchh bachat ho hee jati hai (The best part is that every day we are able to put aside some money, even if a tiny amount),” says Kulwant Singh, from Hasanpur Kasba, who sells savouries and other goods from his cart. “Who can go to the bank every day to deposit small amounts? But when the agent comes, you feel like giving them a small part of your earning for the day.”

Currently Prathama Bank has around 15,942 account holders under the Adarsh scheme, with deposits clocking nearly ₹50 crore. What is more, the Adarsh agents (selected from the local area), who get 3.5 per cent commission on the money collected, are gainfully employed.

Hifzurrehman, one of the agents, says, “I start my day in the afternoon. I have about 300-400 clients, including some household women. The amount each person wants to deposit varies from day to day. However, I am able to earn nearly ₹500 a day.”

There are 72 agents working mostly in villages or kasbas . Prathama Bank plans to employ more in other areas.

The writer is a senior journalist based in Delhi

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