The Hindu Business Line : Palakkad set to become `total banking' district

The district has been picked by the State Level Bankers' Committee (SLBC) for implementing the programme on a pilot basis in the light of the Reserve Bank's annual policy statement for 2005-06.

The policy statement had mentioned that SLBC conveners in all States and Union Territories should identify at least one district in their area for achieving 100 per cent financial inclusion by providing `no frills' account and a General Purpose Credit Card for extending need-based loan facilities.

The Kerala SLBC has initiated an action plan to implement the programme before September 30 this year. The plan includes allocation of areas among the various bank branches in the district; conducting surveys by the bank branches in the areas allotted to them to ascertain the financial requirements of the people, especially the target groups, namely, SC/ST, minorities and women; and campaign for opening `no frills' accounts by the people to inculcate banking habits in them.

Canara Bank, the lead bank in the district, has roped in Agriculture, Revenue and Panchayat Departments and the State Poverty Eradication Mission (Kudumbasree) for the effective implementation of the programme.

A sub-committee has been constituted at the district level to monitor the progress of the implementation of the programme. Apart from the lead bank, Punjab National Bank, State Bank of Travancore, South Indian Bank and Catholic Syrian Bank and the district heads of the government departments are members of the committee.

The programme will involve 264 branches of commercial banks, besides those in the co-operative sector, spread over 12 Blocks in the district. At the Block level, the activities will be coordinated by the convener of the Block Level Bankers' Committee and the Block Panchayat Secretary.

According to SLBC officials, after the experiment at the district level, the programme will be taken up at the State level and this is targeted to be completed by March 2008.