Saraswat Bank launches A/C scheme for lower income group

Mumbai, Aug 9 (UNI) The Saraswat Co-operative Bank today launched the Janahita account to meet the banking needs of people belonging to the lower income group.

The scheme will benefit the people who cannot even open a savings account, as they are unable to meet the requirement of high minimum balance and other conditions specified by various banks.

Under the Janahita scheme (no frills account), a customer will have to maintain a minimum balance of Rs 100. He will be allowed four debit transactions per month, a bank release here said. Besides, the bank will extend cheque collection facility to the customers and allow any number of credit transactions in their accounts.

However, facilities like cheque book, ATM and any branch banking will not be provided to such account holders. Certain other procedures are also relaxed for customers opening this account, thus, enabling the bank to offer banking services to a large section of society, the release said.

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