'Banks in villages with 5,000 people'

'Banks in villages with 5,000 people'

'Banks in villages with 5,000 people'

The State government has identified Chamarajanagar as a district with least bank branches. Keeping this in view, banks have been instructed to open branches in all villages with more than 5,000 population, said K Lakshmisha, general manager (rural banking and financial inclusion), State Bank of Mysore.

He was speaking during the release of District Credit Plan at the zilla panchayat premises, recently.

The bank has opened ten new branches and it would deliberate with other banks on opening more branches for the financial inclusion of the district, he said.

Speaking on the district credit plan, he said that there has been an increase in lending for the year 2013-14, as against 2012-13. However, he raised concerns on the recovery of bank loans. “It is only when lenders repay their loans in time, can the banks offer more loans,” he said.

He said that about 8,000 self help groups were provided financial assistance to the tune of Rs 80 crore in the district.

More than 50,000 people were disbursed with pensions using smart cards of the bank, he said.

He added that the Aadhaar based Direct Cash Transfer scheme would soon be introduced in the district.