Making it Easier to Apply for a Bank Account : A Study of the Indian Market

This paper draws on new individual-level survey data from India to study the costs of opening an account and the efficiency of the account application process. The data show a recent increase in account ownership, especially by women and poor adults. The data also suggest that India's flagship financial inclusion program, the Jan Dhan Yojana scheme, has made it easier to get an account, through lower costs and greater ease of applying. Yet despite the scheme's initial successes, people who wish to apply for an account continue to incur a range of costs. The survey results suggest several recommendations that could improve the account application process and increase ownership and usage of accounts