RBI model to provide banking services in remote areas
Agartala: The Reserve Bank of India has
adopted a business correspondence model, acting as an agent of
a commercial bank, to provide banking services to the people
of remote areas where there is no banking outlet.
The model would be ideal for North Eastern states like
Tripura, a state full of terrains and scattered population,
said Usha Thorat, RBI deputy governor here in a seminar.
Under the model, post offices, cooperatives, NGOs,
financial institutions, self help groups, retired employees of
state or central government may act as an agent of the banks
and provide services to people.
The customers would be provided with bio-metric cards,
she said adding the model would bring banking services to the
doorstep of people, and bring transparency in providing wages
or allowances to eligible people under various government
schemes and programmes.
Thorat said any significant breakthrough in financial
development could be achieved if the state government and
bankers work together and identify the issues properly.
State Finance Minister Badal Chowdhury who inaugurated
the seminar yesterday appealed to the RBI authorities for
opening an office in Tripura so as to gear up improvement of
banking activities in the state and pointed out to the gradual
declining feature of credit-deposit ratio in the region.
More from India
More from World
More from Sports
More from Entertaiment
- Indian- Americans launch online petition to declare Pakistan 'sponsor of terrorism'
- Panel discussion over PM Modi's willingness to engage in direct dialogue with Pak
- EU warns Pakistan of political and economic sanctions over atrocities in Baloch
- Should Pakistani artists be restricted from working in India?
- PM Modi slams Pakistan govt during his speech in Kozhikode
- SHOCKING VIDEO: This man was trying to take selfie with python - You won't believe what happened next!
- Call up this number and get Reliance Jio's SIM for sure
- WATCH: Ravichandran Ashwin's magic ball that bamboozled Kane Williamson on Day 3
- If you have guts, send your suicide bombers to Pakistan: Samajwadi Party to MNS' Raj Thackeray
- Govt calls meet on Indus Water Treaty; Water Resources Ministry, MEA to brief PM Modi