451 villages in Bihar to be covered under financial inclusion

scheme: BOB

Patna, Jan 13 (PTI) The Bank of Baroda (BOB) willprovide banking facilities to 451 villages in Bihar by March2012 under a financial inclusion scheme.

"Our bank will take banking facilities to thedoorsteps of 451 villagers by March 2012, the bank''s ExecutiveDirector (ED) N S Srinath said here today.

Srinath told reporters that the public sector bank hashired the services of a service provider, Hindustan ComputersLtd, to provide banking facilities to targeted villagers underthe financial inclusion scheme.

The BOB has been entrusted with providing bankingfacilities to 2800 villagers across the country under thescheme, he said.

Referring to financial activities of the BOB in Bihar,he said that it has 103 branches in the state till date andanother 10 will come up by March 2011.

The bank stood fourth among all banks to have 100 ormore branches in the state.

Srinath said that BOB will seek to attract newcustomers not only for deposits, but also for availing creditfacilities for individuals, students and business activities.

The BOB also has 22 ATM units functioning in the stateand 10-15 more would be set up by March 2011.

Srinath said that the bank has been positivelycontributing to the economic activties in theagriculture-dominant state and implementating the annualcredit plan of state governments.

Referring to the economic prospects of Bihar in termsof expansion of banking activities, the BOB official said thatthe banks'' deposit and credit growth would witness a quantumleap once industrial activities took off in the state.

Stating that there had been positive developments inBihar in recent years like improved law and order, roadconnectivity and an overall atmosphere for economicdevelopment, Srinath said that it was a matter of time thatindustrialists and investors would look to the state as theira destination for industrial activities.