Pistol-Packing Bankers Chase Profits in India
Rural kiosks sign up 100 million people for financial services
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Zeyaul Haque, who runs a market stall in rural India, likes the respect he earns as the village banker. He has 10,000 customers who previously didn’t have access to savings accounts or cash withdrawals. There’s one drawback: the fear of being robbed.
“I bought a pistol,” says Haque, 31, who took over the business in April after his brother was shot to death and robbed of 500,000 rupees ($8,200) by a customer and motorcycle-riding accomplices who’d staked out his daily route to the nearest State Bank of India branch. “This is a dangerous business.”