In an attempt to make available the banking facilities at the door-step of the customers, State Bank of India has launched ‘Bank on Wheels' project in Nagaland. The scheme will facilitate the population in the remote areas of the state which lack backing facilities and forms a part of the financial inclusion plan of the bank.
Majority of the bank's branches in state are concentrated in a three districts that leaves the remaining eight districts at dearth of branches and hence banking facilities. According to an estimate only around 20-30 percent population in the state has access to banking services.
Under the facility, the van will visit around 5-6 villages two times during a week. Before March 31st, the villages with a population over 2,000 will be covered under the scheme. In the second phase, which begins from April, villages with population more than 1,000 will be covered.