3,395 villages lack banking facilities

3,395 villages lack banking facilities

Disclosing this information at 114th State Level Bankers’ Committee (SLBC) meeting, SLBC Chairman Basant Seth said banks have drawn up plans to cover these villages by 2012.

“Though progress made by banks in State in the last few years is satisfactory, the benefit of technology has not percolated to the common man yet. Banking transactions have not become cheaper, easier and faster due to the lack of infrastructure, business process re-engineering and deficiency in delivery model,” Seth, who is the CMD of Syndicate Bank, said.

He said banks need to step up credit facility under educational loans in the wake of the State Government announcing the scheme to provide the loan at six per cent interest.
Banks have shown a moderate 21.37 per cent growth under educational loans up to June 2010.

The Government also needs to notify the designated authorities to issue income certificates to students, who wants to avail loan under the scheme, he added.

Seth said banks should give special attention to affordable housing schemes, especially to economically weaker section in urban areas.

Banks can accept title certificates (hakku patra) issued by the Government as the proper property document to disburse loans under the scheme, he added.