During the year under review, we introduced new products targeted towards specific customer segments and collaborated with technology partners to create digital payment solutions for certain customer segments. These efforts resulted in excellent branch banking performance and expansion of our liabilities book.
34% y-o-y 
100% y-o-y
*Current Account Savings Account
65% y-o-y
y-o-y growth
y-o-y de-growth
Targeted towards customers who have accumulated wealth and are looking for upgraded banking services and features including unlimited no-cost ATM transactions, higher transaction limits, and complimentary RuPay platinum debit card with lifestyle benefits. Privilege Savings book has grown to ₹395 Crores by the end of FY 2020-21 with a ticket size of ~₹97,000.
Garima Savings Account is thoughtfully created for the economically active women of India. It offers customised and unique banking services such as specially designed Garima Debit Card (womencentric personalised Rupay Debit Card with several linked multiple benefits and personalised cheque book), higher cash deposit limit, unlimited free NEFT/RTGS transactions through mobile banking, complimentary subscription to Ujjivan Kavach plan to name a few. The account further offers other benefits such as purchase protection, one-call card blocking, along with offers on bill payments, entertainment and lifestyle.
New acquisition in Garima Savings Account has contributed ~₹12 Crores by the end of FY 2020-21 with a ticket size of ~₹27,000.
Going forward, we will concentrate on improving our customer and product sourcing mix, with nearly 50% contribution from flagship offerings with higher Average Ticket Size (ATS) such as — Privilege Savings Account, Garima Savings Account, Senior Citizen Savings Account, NRI Savings Account and Business Edge Current Account. We are also planning to offer new products and services that will cater to the needs of our targeted customer segments of different strata. Further, we will expand our reach among small-and medium-size retailers with Point of Sale (POS) and QR led acquisition.
Given the large unexplored potential of the NRI segment, we plan to channelise the branch resources to acquire more NRI relationships. We are engaging the digital team for executing a framework for acquiring more NRI relationships through nonface to face offering to eliminate the geographical restriction and help low-cost acquisitions. Further, we will be implementing digitally enabled banking solutions for government and institution business such as Public Funds Management System (PFMS) for various agencies for payment and collection of funds, payment gateway facility to government and TASC customers, customised POS and QR offering to the TASC segment.
Over the last 4 years of our banking operations, we have created a large and diversified customer base and we see a huge opportunity in terms of enhancing their wallet share by cross-selling, offering upgrades and engaging with them through different digital channels. Going forward, we will focus on continued engagement with the entire customer base, offering complete banking solution under one roof to increase their wallet share with our Bank.
Annual Report 2020-21