Ernakulam district is set to become the first district having ‘meaningful financial inclusion’.
The district level review committee of commercial banks (DLRC) , which met here, decided to dedicate the district to the nation as the having ‘Meaningful Financial Inclusion’ on 22nd November.
A survey conducted by the Kudumbasree Mission, a government-sponsored women empowerment organisation, stated there are nearly 20 per cent adults in the district without bank accounts.
Ward-wise campaigns by banks to open accounts are now progressing. Banks will also offer remittance services and micro insurance policies in the district. It is intended to complete the process by October-end.
Deposits in the district increased by Rs 3,446.68 crore during April-June of the current fiscal taking the total to Rs 43,911.85 crore. However, advances declined by Rs 1,574.48 crore to Rs 45,695.43 crore. The CD ratio of the district declined to 104.06 per cent from 116.81 per cent.
All eligible non-default farmers will be provided with Kisan credit card and non-default non-farmers with general credit card by March, 2013. Financial literacy centres will be opened in all the blocks by October.
At present, these centres function in three blocks, Koovappady, Angamaly and Kothamangalam, a release said.