Canara Bank targets villages financial inclusion

Bangalore, May 31: Public sector Canara Bank has taken up an ambitious programme for 100 per cent financial inclusion in 1400 villages across the country before the end of June 2006, covering 700,000 families.

The bank had taken up financial inclusion on a campaign mode covering all semi urban and rural branches. A national sample survey had found that 41 per cent of the adult population of the country did not have access to formal banking facilities.

In a release here, the bank said there was a huge opportunity for the Banks to offer facilities to the remaining population to be brought under the banking fold.

Under the programme launched by the Bank, every adult member of a rural household in the selected villages would be encouraged to open 'No Frills' accounts with minimum entry-level formalities. The bank would also be assisting village artisans like blacksmiths, carpenters, leather workers, people engaged in servicing of agricultural implements and household equipment through General Purpose Credit Card and Artisans Credit Card which offer loans up to Rs 25,000 without collateral securities or guarantees.

UNI