40% population have bank accounts: NABARD
Itanagar: Only 40 per cent of the total
population in the country have bank accounts and two
per cent use credit cards, NABARD General Manager, B M
Mukhopadhyay said today.
This was so because of low banking literacy of the
people, especially the poor, Mukhopadhyay told a financial
outreach programme, organised by the RBI,at village Borum,
To improve the situation, seven crore no-frill
accounts with zero deposits were opened in the last three
years, he said.
Kerala, Tamil Nadu and Pudducherry had achieved a high
percentage of banking literacy he said and expressed the hope
that other states would catch up soon.
Mukhapadhaya said to make banking services accessible to
the weaker groups, his bank had launched a special drive in
Tirap, Changlang, Lohit, East Kameng and Dibang Valley
districts in Arunachal Pradesh having abysmally low level of
financial inclusion as per the Rangarajan committee report.
RBI executive director G Gopalkrishna said the
poor people who had no collateral securities might obtain bank
loans through self-help groups.
SBI Chief General Manager(NE,) A K Deb said banks were
constrained to sanction loans in the absense of official land
records if land was forwarded as collateral security.
More from India
More from World
More from Sports
More from Entertaiment
- Watch: PM Narendra Modi addressing rally in Imphal
- Will Shiv Sena join hands with Congress to stop BJP from entering BMC?
- China 'threatened' by ISRO's record-setting achievement?
- Why is Akhilesh Yadav encouraging dishonesty for votes?
- Report: Are mobile smartphones more unhygienic than toilet seats?
- Ind vs Aus: Mohammed Azharuddin says Jayant Yadav and Ishant Sharma should be replaced in next Test
- WATCH: Kieron Pollard's epic celebration after destroying Lahore Qalandars in Dubai
- Indian doctor rescued from ISIS recounts horror, says 'they forced me to watch videos, shot me thrice'
- Mitchell Johnson takes a dig at Anil Kumble over calling Steve O'Keefe 'steady'
- Pune Test: Virender Sehwag could have saved India from embarrassment, says former Aussie stars