It has been reported that through the Akshaya centres bank will be providing major banking services to the people in rural areas of Malappuram. The centers will be offering the services like cash depositing, cash transfer and account opening. These services will begin from July onwards.
The services of State Bank of India (SBI), Federal Bank, Kerala Gramin Bank (KGB), state Bank of Travancore (SBT), Punjab National Bank (PNB), Vijaya Bank, Bank of India, Central Bank of India, Corporation Bank and Syndicate Bank will be available in Akshaya centres. There will be one banking kiosk in each centre that will offer services.
The transaction will be carried out on the basis of the biometric information of each customer. This will help the students as well as the people living in rural who are not having proper access to the banking services and are unaware of the ATMs and many such other facilities.