SBI TO OPEN BRANCHES IN VILLAGES WITHOUT BANKS

With a view to taking the concept of financial inclusion a step forward and extend the banking umbrella in the villages without banks, State Bank of India plans to cover one lakh such villages by offering them banking services.


In an attempt to extend banking services in villages, banks have been trying to establish branches in gram panchayats. SBI had earlier entered into a Memorandum of Understanding with the Orissa Government to provide banking outposts in all 6,234 gram panchayats to facilitate Electronic Benefit Transfer of National Rural Employment Guarantee payments and other social security benefits throughout the state paving the way for financial inclusion of disadvantaged and low income groups.


Source: http://www.blonnet.com/2010/01/31/stories/2010013151470500.htm