Business Daily from THE HINDU group of publications
Monday, Apr 13, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Monday, Apr 13, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Money & Banking
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Public Sector Banks Bank of India to bring more districts under branchless banking 
Mr M. Narendra A.J. Vinayak Mangalore, April 12 Bank of India, which has implemented the branchless banking model for financial inclusion in Raigad district of Maharashtra, is planning to implement the model in the 48 districts in the country where it has a lead bank responsibility. It is planning to cover at least 10 lead districts during the current financial year. Mr M. Narendra, Executive Director of Bank of India, told Business Line that information technology-enabled solutions such as handheld devices and biometric cards were used to provide branchless banking service. He said that more than 46,000 households have been provided with biometric smartcards in Raigad district where the business correspondents visit the doorstep of rural customers to provide banking services. The bank has so far opened more than 17 lakh savings bank no-frills accounts. Mr Arjun Ghugal, General Manager of the bank, said that three business correspondents (BCs) and 81 sub-BCs provide branchless banking service in Raigad district. “During the current fiscal, we will cover all the 48 lead districts as far as opening no-frills accounts is concerned. Using IT-enabled solutions, we would like to provide branchless banking service in at least 10 lead districts,” he said. Bank of India to pay Rs 3 interim Bank of India net rises 70% on higher income More Stories on : Public Sector Banks | Information Technology
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