Private sector lender, Lakshmi Vilas Bank has initiated its financial inclusion move in the state of Tamil Nadu.
The bank has decided to engulf as many as 53 villages across the state and offer banking services there. It has 42 branches in the state and will also take the help of business correspondents.
"The bank has planned to implement its services with an objective to ensure greater reach to the underprivileged sections of the society. The idea to do this was through availing of the business correspondent services of intermediaries, such as NGOs/self-help groups, MFIs and other civil society organisation (CSOs)," read a release by the bank.
"Over 2 lakh customers will be serviced through 51 branches in rural locations and 105 branches in semi-urban locations. The bank will be making available a wide range of financial services to every individual particularly weaker sections and low-income groups, said MD & CEO of the bank, Mr. PR Somasundaram.