Kumari Palany & Co

RBI TO UNVEIL RURAL BANKING IN A BIG

Posted on: 13/Sep/2010 3:38:58 AM
The Reserve Bank of India (RBI) has initiated measures to extend organised banking services to those villages that do not have any access to banking.

According K.R. Ananda, Regional Director, RBI, the premier Banking Institution has identified about 4,600 remote villages in the State that have minimum  population of 2,000. The time frame given to the banks to have banking correspondent (BC) or a structure in these villages by 2012.This was mainly for the payment of benefits of the welfare programmes such as the Mahatma Gandhi National Rural Employment Guarantee Scheme. This model would help those in the rural areas get banking facility at their doorstep and increase the financial inclusion further. This is just initiation banking to the rural people; gradually other services will be introduced.

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