Corporation Bank Joins Hands With Dabbawallas

Corporation Bank has joined hands with Mumbai''s dabbawallas to source clients for offering banking services. The dabbawallas will act as business facilitators for distributing mailers and will also collect the filled-up application forms for opening new deposit accounts. There are around 5,000 dabbawallas in Mumbai feeding a client base of around 1.25 lakh office goers and 50,000 students every day. The remuneration to the dabbawallas will be based on a flat-fee structure. They will get Rs 2 per form for distribution and Rs 5 per form for collection of the completed application forms. There will be designated dabbawalla officials who will attest the feedback reports before passing them on to the marketing team of the bank. Dabbawallas, who have earned a Six Sigma performance rating for the efficiency in supply chain distribution, will also be encouraged to open savings bank accounts with the bank. Besides being bankable, dabbawallas are now also being found to be insurable. Recently, Bharti AXA Life Insurance Company launched a social product - GroupSuraksha. The first customers of the group cover included over 1,050 dabbawallas. GroupSuraksha is a one-year renewable group term product designed for co-operatives, institutions and NGOs operating in the rural and social sectors.