Financial inclusion and postal banking327BOX 23.1SUMMARIZING FEATURES FOR PURE BRIC POLAR CASESIndia Multiple partners �public or private banks, mutual funds, insurance schemes, money transfer operators Own postal accounts No speci brand but India Post Wide coverage of rural areas through the largest postal network in the world (more than 150,000 post ofes) No bank status (or postal bank status) Full range of retail banking services, except credit No credit except current experiments in the area of microcredit Provision of insurance schemes with special program for public employees Delivering part of Indian social program benes for unemployed people Conversion to a postal bank under study Strategic partner of the central bank for ancial inclusion policiesBrazil ranchless banking�through a correspondent system regulated by the Brazilian Central Bank Exclusive partnership with a bank anco Postal�postal bank brand owned by the Post Full range of retail banking services, except consumer credit (currently under development) Microcredit developed Not managing the credit risk (done by partner) Simplid asy Account�for customers Customers mostly low and middle income No wholesale banking or large loans for large ms or multinationals Sometimes the only point of access to ance in some municipalities Intense competition with other banking agents in the ld of payments Information on accounts but the latter belong to the partner bank Business hilosophy� distribution channel with broader postal goals of social and ancial inclusion Russia Processing cash transactions Payment of utility bills Delivery of pension benes Domestic and international remittances No accounts Few partners Recent or renewed (end 2009, early 2010) ambition of creating a postal bankChina Banking license Fully dged postal bank Double bottom line institution (bank 1 goal of improving access to the unserved or underserved) Function of access to ance in rural areas Large microcredit player Managing their own credit risk Own accounts
