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Cost and Willingness to Pay in Tamil Nadu Alphina Jos, Denny George, Ghiyazuddin A Mohammad, Shivshankar V., Stanley V Thomas

MicroSave – Market-led solutions for financial services

Cost and Willingness to Pay in Tamil Nadu – Jos et al.

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Table of Contents EXECUTIVE SUMMARY ....................................................................................................................................................................................................................... 2 BACKGROUND & INTRODUCTION TO STUDY ............................................................................................................................................................................. 3 AREA PROFILE ........................................................................................................................................................................................................................................ 4 MARKET RESEARCH PROCESS ........................................................................................................................................................................................................ 6 RESEARCH OBJECTIVES .......................................................................................................................................................................................................................... 6 RESEARCH METHOD ............................................................................................................................................................................................................................... 6 PROFILE OF THE RESPONDENTS..................................................................................................................................................................................................... 8 BARRIERS/CHALLENGES TO SAVINGS ACCOUNT ACCESS .................................................................................................................................................. 11 COSTS INVOLVED IN DOING A BANK TRANSACTION ............................................................................................................................................................ 14 DIRECT COSTS....................................................................................................................................................................................................................................... 17 INDIRECT COSTS ................................................................................................................................................................................................................................... 17 ATTRACTIVE FEATURES OF BC MODEL ..................................................................................................................................................................................... 18 WILLINGNESS TO PAY ...................................................................................................................................................................................................................... 20 UNATTRACTIVE FEATURES OF BC MODEL ............................................................................................................................................................................... 22 REASONS FOR UNWILLINGNESS TO PAY ................................................................................................................................................................................... 23 ANNEXURES .......................................................................................................................................................................................................................................... 26 ANNEXURE I: FGD GUIDE FOR CLIENTS ...