Banks to reach 3,395 villages by next year

Expanding : Reserve Bank of India Regional Director Vijaya Bhaskar at a meeting of the State Level Bankers’ Committee in Bangalore on Monday. SLBC Chairman Basanth Seth and Additional Chief Secretary Meera Saxena are with him.  DH photo

As on September 2010, the banks have covered 549 villages.

SLBC chairman and CMD of Syndicate Bank Basanth Seth, at a meeting on Monday, said the Government of India and Reserve Bank of India had accorded top priority for achieving inclusive growth by implementing financial inclusion effectively. The banks in Karnataka will provide banking services in villages by either opening a bank branch or hire business correspondents.

Seth said the banks had disbursed Rs 19,008 crore as priority sector credit till September, 2010 against the annual target of Rs 38,952 crore for 2010-11. Under the agriculture sector the banks had disbursed Rs 12,874 crore till September 2010, he said.

Additional Chief Secretary and Development Commissioner Meera Saxena said the SLBC has been successful in meeting the targets.

The immediate challenge for the banks is to achieve financial inclusion. All banks should play a major role in achieving it, she said.

She alleged that several government schemes couldn’t be implemented effectively due to ignorance of many officers in the branches. The banks should ensure that the officers are aware of these schemes, she added.

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