NEWS & ADVICE : PERSONAL LOAN
Goa opens to branchless banking
By Vaibhav Aggarwal
Dec 21, 2010
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Financial inclusion plans of banks seems to be taking new leaps across the country. The rural banking drive in Goa has brought with it the facility of branchless banking to villagers in remote areas which have not been touched by banking. Villagers can now deposit as well as withdraw cash upto Rs 10000 per day using 'branchless banking.'

A survey conducted has resulted in shortlisting of 41 villages which will receive the platform of mobile banking through customer service points (CSPs).

According to SBI district manager, S Shahane, the CSPs will have 'zero' application software. The villagers will be provided biometric smart cards to carry out transactions.

"For every transaction, the customer will be issued a receipt from the machine," RSETI (rural self-employment training institute) director Suhas Dhamankar said.

Of the 41 unbanked villages, 18 will be run by State Bank of India (SBI), and the others by Union Bank, Bank of India, Syndicate Bank, Canara Bank, Bank of Baroda and Indian Bank. The CSPs will be linked with a mobile service and will function in a PCO model whose accounts will be maintained by nationalized banks.


 


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