NEWS & ADVICE : CAR LOANS
Migrant workers of Surat get access to mobile banking
By Vaibhav Aggarwal
Sep 6, 2010
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Migrant workers of Surat will now get the facility to send money to their families back in Orissa without having to go to banks for the same. Private sector lender, Axis Bank is going to launch a mobile banking project under which banking facilities would get more easy access by these workers.

The drive by Axis Bank will be stretched across three areas namely Surat-Ganjam, Delhi-Muzaffarpur and Dharavi- South India. "The project is in experiment stage and the services will start within three months. The idea is to provide banking services to those migrants, who presently stay away from home," Axis Bank's executive director S K Chakrabarti said.

He added that the bank is keen in expanding its hold in Gujarat and currently holds 77 branches in the State.

"In Saurashtra region, we want to start around 20 branches to experiment with financial inclusion. Of this, around 12 branches will be opened by March 2011. Based on its success, we will replicate the model elsewhere," said Chakrabarti.

The bank is also planning to open a branch in London. "We have already received Reserve Bank of India's approval for the same," said Chakrabarti.


 


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