'94 pc of villagers still out of banking bracket'

50 Business Correspondents to cover 50 villages in Udupi

Speaking after the inauguration of ‘Induction of Business Correspondents’ by Syndicate Bank, as part of implementation of ‘Financial Inclusion’ project here on Tuesday, he said that 94 per cent of the villages in India still have no banking facility while 51 per cent of the population has no bank accounts.  Banking service is to be provided either by opening branches in villages or by branchless banking through Business Correspondents (BCs), he said.

In Udupi

He said that out of 190 villages with a population of over 2,000 in Udupi, 69 villages have bank branches and 121villages do not have banks.  

The bank will provide banking facility in 72 villages in the first phase with 20 under branch models and 52 villages through Business Correspondents.

The bank has selected 50 BCs covering 50 villages and financial inclusion process is already under progress in these villages.

The selected Business Correspondents have being trained SIBM training Centre in Manipal, he added. Upadhyaya urged the Business Correspondents to work with dedication on the lines of Bank's Pigmy scheme to ensure that every family in their designated villages is covered under financial inclusion programme during the next one year. Syndicate Bank is the first bank in the country to induct 50 Business Correspondents in one district, he said. 

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