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CASE STUDY #118

IIFL SAMASTA FINANCE

Financial Inclusion Through Women-Centric Microfinance

Financial exclusion remains a significant obstacle to equitable socio-economic progress in India, especially among rural women, low-income families and marginalised groups without access to formal financial systems. Traditional banks have often failed to deliver accessible, affordable and tailored financial products to these segments due to geographic remoteness, low-transaction margins and perceived credit risks. IIFL Samasta Finance Ltd emerged as a focused microfinance institution addressing this gap through prudent lending, women-focused financial empowerment and technology-driven inclusion. Since 2008, the organisation has grown into one of India’s top NBFC-MFIs, operating 1,648 branches across 22 states and serving over 3 million customers. Its diverse product range, including income-generation loans, sanitation support, dairy cattle financing, business loans and two-wheeler lending, creates sustainable livelihoods for underserved communities. Simultaneously, IIFL Samasta has embedded digital customer engagement, streamlined payments, paperless onboarding, financial literacy and dispute-resolution systems to increase access and enhance the customer experience Read More

CASE STUDY #119

BANK OF MAHARASHTRA

Public Sector Banking Through Social Media Innovation

As digital connectivity grows, financial institutions are now judged on their ability to engage customers meaningfully across digital channels, rather than just on the quality of their products and services. Traditional, transactional banking communication has failed to connect with younger audiences and address financial literacy, losing emotional resonance with diverse communities. Bank of Maharashtra radically transformed its social media approach, shifting from passive broadcasting to customer-focused engagement. This effort blended creative branding, hyper-local multilingual outreach, literacy campaigns, cyber awareness, generative AI stories and culturally relevant narratives to create an interactive digital environment. This enabled the Bank to build trust and transform its social media from a marketing channel into a true public engagement platform. The initiative grew customer trust and awareness, making Bank of Maharashtra the second-largest public sector bank by social media followers as of September 2025. This project demonstrates how public-sector banks can leverage localised, customer-first digital storytelling to increase engagement and institutional visibility Read More

CASE STUDY #120

BANK OF BARODA

bob World Business - Digital Banking for MSMEs

Digital transformation in business banking has shifted expectations among SMEs and mid-corporate customers, demanding faster, more flexible financial solutions. Traditional corporate banking, dependent on branches and fragmented digital tools, does not meet these needs. Bank of Baroda created bob World Business as a mobile-first ecosystem that offers secure, unified digital management tailored for business customers. By extending digital transformation to SMEs and mid-corporates through a single platform, the application integrates transaction management, payments, governance and compliance, enabling secure, on-the-move business transactions and reducing reliance on branches. This demonstrates a scalable, customer-centric digital approach for India’s entrepreneurial businesses Read More

CASE STUDY #121

BANK OF BARODA

bob World - Customer-Centric Digital Banking Ecosystem

The rapid expansion of digital technologies has transformed customer expectations from banking institutions, particularly among Gen Z and digitally native consumers who increasingly seek seamless, integrated and real-time financial experiences. Traditional banking applications, designed largely as transactional utilities, have struggled to remain relevant in an environment where consumers expect banking to be embedded within their broader digital lifestyles. Bank of Baroda’s bob World initiative represents a strategic ecosystem transformation designed to reposition the Bank from a traditional financial institution into a customer-centric digital lifestyle partner. The super app integrates banking, investments, shopping, travel, digital lending and lifestyle services into a unified platform, supported by an open banking architecture and Account Aggregator (AA) integration. The initiative combines paperless onboarding, AI-enabled personalisation, embedded finance and modular microservices architecture to create a scalable digital ecosystem Read More

CASE STUDY #122

BANK OF BARODA

bob इ Pay - UPI Global Connect

India’s Unified Payments Interface (UPI) is among the most robust digital public infrastructures globally, revolutionising domestic retail payments through interoperability, accessibility and real-time settlement. Yet cross-border retail payments relied on fragmented international networks characterised by high transaction costs, opaque foreign exchange markups, settlement lags and operational inefficiencies. Bank of Baroda’s bob इ Pay – UPI Global Connect was devised as a strategic move to internationalise India’s digital payment landscape and deliver UPI’s advantages to Indian travellers, Non-Resident Indians (NRIs) and overseas Indian communities. The initiative enabled UPI-based merchant payments in nine global markets, adding inward remittance functionality and NRI connectivity via NRE and NRO accounts. The platform leveraged secure APIs, scalable architecture, instant forex visibility, consent-driven activation, advanced fraud monitoring and QR interoperability to create a cohesive cross-border payment network. By redefining UPI as a global payments rail rather than a local mechanism, the project illustrates how native digital infrastructure can be scaled into an international financial framework. The initiative enhances customer convenience, financial inclusion, transparency and global recognition of India’s Digital Public Infrastructure (DPI) Read More

CASE STUDY #123

UNION BANK OF INDIA

Financial Inclusion Through Credit Card Innovation

Union Bank of India addressed operational inefficiencies along with financial inaccessibility through two key credit card initiatives: the STP Journey for Staff Credit Cards and the launch of Union SPARSH, India’s first Braille Credit Card. Through leveraging digital workflows, automated approvals and accessibility-focused product design, these initiatives boosted efficiency, promoted sustainability and enabled financial inclusion for visually impaired customers. The STP framework processed more than 21,550 applications digitally, while SPARSH enabled visually impaired individuals to have independent, secure access. Together, they demonstrate how sustainability, digitisation and equity can drive core banking transformation. Read More

CASE STUDY #124

LIC MUTUAL FUND

LIC MF Dividend Yield Fund

India’s equity investment market has evolved, yet a gap remains between growth-focused strategies that bring volatility and income-focused strategies that often lag in long-term wealth creation. LIC Mutual Fund introduced the LIC MF Dividend Yield Fund on 21 December 2018 to bridge this divide. The fund invests in companies with strong dividend yields, sturdy fundamentals and sustainable growth potential, using a market-cap-agnostic, diversified approach. Benchmarking against NIFTY 500 TRI, it aims to provide both capital appreciation and steady income, offering investors a strategy that approaches long-term wealth creation with stability and resilience. Read More

CASE STUDY #125

LIC MUTUAL FUND

LIC MF Gold ETF Fund of Fund

Gold has historically occupied a central position in Indian household savings and wealth preservation strategies. However, traditional investment in physical gold continues to involve multiple systemic limitations, including storage risks, purity concerns, high transaction costs and liquidity constraints. Additionally, conventional Gold Exchange Traded Funds (ETFs) typically require Demat accounts, creating accessibility barriers for retail investors unfamiliar with capital market infrastructure. LIC Mutual Fund addressed these problems through the LIC MF Gold ETF Fund of Fund, an open-ended Fund of Fund scheme investing in the LIC MF Gold Exchange Traded Fund. Launched on 14 August 2012, the initiative was designed to expand access to gold investments by supplying a transparent, liquid, cost-effective and digitally accessible alternative that does not require physical gold ownership or a Demat account. The scheme follows a passive investment strategy that closely replicates domestic gold prices by investing in underlying ETF units while preserving liquidity, transparency and operational simplicity. Supported by robust administrative frameworks, investor education initiatives, risk management systems and efficient ETF replication mechanisms, the fund has evolved into a scalable, investor-friendly commodity-linked investment solution. Read More

CASE STUDY #126

UNION BANK OF INDIA

Green Finance Under Retail Lending

Green finance has emerged as one of the defining pillars of sustainable economic development across the global financial system. As climate concerns, environmental protection and ESG-linked investments increasingly shape policy and financial decision-making, banks are required to integrate sustainability into mainstream lending operations. Union Bank of India responded to this transition by implementing a comprehensive “Green Finance under Retail Lending” initiative to promote environmentally responsible retail financing solutions through Green Home Loans, Green Vehicle Loans and Rooftop Solar financing. Implemented from April 2024 onwards, the project leveraged the Bank’s extensive network of 8,655+ domestic branches, 9,000+ ATMs and 25,700+ BC points to scale green finance products across India. The Bank introduced concessional pricing, digital loan processing, integrated subsidy-linked financing and customer-centric green products to accelerate the adoption of sustainable housing, electric mobility and renewable energy systems. Read More

CASE STUDY #127

INDUSIND BANK

INDIE for Business

MSMEs are the backbone of the Indian economy, contributing over 30% of GDP, generating nearly half of exports and employing over 110 million individuals across India. Yet MSMEs face significant barriers in the banking sector: fragmented financial systems, slow onboarding, payment delays, complex compliance requirements and limited digital support. IndusInd Bank’s INDIE for Business directly targets these challenges through a unified, mobile-first financial ecosystem. INDIE offers digital onboarding, central financial management, tax and payment tools, merchant services, robust security and trade finance, all in one platform. Its modular API-driven structure moves beyond traditional banking to provide intelligent, scalable, customer-centric services. Within six months, INDIE exceeded 1.3 lakh downloads, with 90,000+ users and boosted customer engagement and efficiency. This case shows how digital banking drives MSME financial inclusion and productivity in India’s digital economy. Read More

CASE STUDY #128

JHARKHAND STATE CO-OPERATIVE BANK

Transformational Approach to NPA Management

The Jharkhand State Co-operative Bank (JStCB) undertook a comprehensive institutional transformation initiative to address one of the most critical threats to banking sustainability, excessive Non-Performing Assets (NPAs). Formed after the bifurcation of Bihar and the creation of Jharkhand in 2000, the Bank inherited substantial legacy issues following the merger of District Central Cooperative Banks into a single apex cooperative banking institution. By March 2020, the Bank’s Gross NPA had reached an alarming 51.63 percent, while Net NPA stood at 22.02 percent, placing the institution at significant regulatory and operational risk. To restore financial stability and institutional credibility, JStCB implemented an aggressive, multidimensional recovery and quality-lending framework that combined legal action, enforcement of recovery measures, staff mobilisation, administrative coordination and strategic credit discipline. The intervention also emphasised continuous monitoring, decentralised recovery mechanisms and coordinated action with local administration and statutory authorities. As a result of these sustained efforts, the Bank successfully reduced Gross NPA to 9.53 percent and Net NPA to 3.15 percent by March 2025. Read More

CASE STUDY #129

LIC MUTUAL FUND ASSET MANAGEMENT

Pocket SIP

India’s financial inclusion journey has noted remarkable progress through initiatives such as the Pradhan Mantri Jan Dhan Yojana (PMJDY), which enabled millions of citizens to access formal banking systems. However, despite the proliferation of bank accounts, a significant gap persisted between savings access and long-term wealth creation opportunities for low-income households, daily wage earners, gig workers and first-time investors. Traditional Systematic Investment Plans (SIPs), typically structured around monthly contributions of ₹500 or more, frequently exclude economically vulnerable segments with irregular cash flows and daily earning patterns. LIC Mutual Fund Asset Management Limited addressed this challenge via “Pocket SIP,” an innovative micro-investment initiative launched in October 2024. Designed specifically for first-time earners, gig workers, blue-collar workers, millennials and Gen Z investors, Pocket SIP is intended to promote financial discipline, expand access to mutual funds and enable wealth creation through compounding. Read More

CASE STUDY #130

UNION BANK OF INDIA

Retail Lending Growth

Retail lending is a key driver of economic growth, financial inclusion and household asset creation. As India’s financial landscape shifted from a seller-driven to a borrower-centric market, banks faced pressure to deliver fast, accessible and customer-oriented lending solutions. Union Bank of India responded with a comprehensive Retail Lending Growth strategy from 1 April 2024 to 30 September 2025. This included structural reforms, digital innovation, centralised processing, targeted product innovation and risk-conscious strategies to strengthen retail lending. The Bank introduced innovations such as Digital Personal Loans, Digital Vehicle Loans, Business Retention Discount (BRD), Digital STP for Roof Top Solar Loans, the Union Green Home Scheme and enhanced VYOM 2.0 mobile banking with 400+ features. Supported by 8,655+ branches, 9,000+ ATMs, 25,700+ BC points, 143 Retail Loan Points (RLPs) and centralised underwriting, the Bank achieved above-industry retail loan growth while improving asset quality and efficiency. Read More

CASE STUDY #131

LIC MUTUAL FUND

LIC MF Short Duration Fund

India’s evolving financial landscape has increased demand for investment products that balance stability, liquidity and moderate returns in volatile macroeconomic environments. Traditional fixed-income instruments often expose investors to either excessive interest-rate sensitivity or inadequate liquidity, creating challenges for retail and institutional investors seeking short-to medium-term financial planning solutions. LIC Mutual Fund addressed this market requirement through the LIC MF Short Duration Fund, an open-ended short-term debt scheme investing in debt and money market instruments with a Macaulay duration maintained between one and three years. Operational since 1 February 2019, the fund was designed to deliver risk-adjusted returns while maintaining moderate interest rate risk and moderate credit risk exposure. The fund follows an actively managed investment strategy combining top-down macroeconomic analysis, selective credit exposure, disciplined duration management and liquidity optimisation. Read More

CASE STUDY #132

UJJIVAN SMALL FINANCE BANK

Micro Deposits for Financial Inclusion

Over the last decade, financial inclusion initiatives in India have expanded access to formal banking services. However, account ownership has not always led to sustained banking behaviour or active financial participation among underserved populations. Many low-income customers still mainly use credit products and remain outside structured savings systems. Ujjivan Small Finance Bank addressed this challenge through its innovative “Enabling Micro Deposit” initiative. This customer-centric intervention was designed to foster savings behaviour among microfinance customers by enabling automated micro deposits during EMI repayment. Inspired by the traditional Indian “Gullak,” the initiative let customers round up their EMI payments to the nearest hundred, with the extra amount deposited into their savings accounts in real time. The project blended behavioural finance, digital integration, operational changes and real-time communication to turn inactive savings accounts into active financial instruments. It was implemented within three months by integrating BR.Net with the Finacle Core Banking system. Read More

CASE STUDY #133

BANK OF INDIA

Real-Time Payments Through Tanzania Instant Payments System (TIPS)

The digital payment landscape is rapidly evolving, redefining customer demands for speed, interoperability and accessibility. In emerging economies, regulators and financial institutions are advancing real-time payment infrastructures, uniting diverse providers within a cohesive ecosystem. Tanzania’s Bank of Tanzania launched TIPS as a national interoperable payment platform, enabling secure, real-time transactions across banking and non-bank institutions. Bank of India Tanzania integrated TIPS by extensively customising its Finacle Core Banking System to handle real-time payment requests, reversals, reconciliation and ISO8583 messaging. Java-based middleware strengthened socket connectivity and real-time processing, delivering secure, instant, customer-focused payment services and elevating operational efficiency and market position in Tanzania. The project highlights how cross-border banks can modernise legacy systems and effectively engage in regulator-led interoperable infrastructures through technology-driven, middleware-enabled, customer-centric payment innovation. Read More

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