We are finding opportunity wherever we look. But none of these opportunities have come the traditional way of opening a branch and waiting for the customer to come in. We are working with a franchisee model, like we did in consumer credit. The regulator now allows it. So, the difference is that we have come up with non-standard solutions. The standard solution is a branch. We will have a few branches, but that is not a scaleable solution. The franchisee model is.

Does the non-branch model help you keep your costs low?

In rural India, at least on the technology front, we will have to work at one-tenth the cost of working in urban India, as the loan size is much smaller. If we want to make it work, we have to have non-standard physical solutions and low-cost technology solutions.

Is agriculture going to be the growth area?

Clearly, for a very simple reason: it’s an unserved market. In an unserved market, if you don’t have triple-digit growth, it’s not…

Triple-digit, compounded?

On a small base, you will have to grow at that pace. Worst-case scenario, in high double digits. Otherwise, you are not going anywhere. If you have to be meaningful in this country, you have to scale up.