Public sector bank Bank of Baroda (BoB) has launched a Mobile Micro Loan Factory (MMLF) in Sultanpur district of Uttar Pradesh as part of its financial inclusion programme in the state.
The mobile unit would target the Self Help Groups (SHGs) in the district to offer them easy credit at doorsteps on low interest rates.
Besides, the bank launched a Financial Literacy and Credit Counselling (FLCC) centre at Amethi to offer financial advise to the rural populace. This was the second MMLF and FLCC in UP after Rae Bareli.
“We are taking all steps to enable the people living in rural areas avail of easy credit to save them from falling into debt trap due to ignorance of various financial products available in the market,” BoB executive director N S Srinath said at a conference call.
He said the State Level Bankers’ Committee (SLBC) had decided for total financial inclusion during 2010-11 of all the villages in UP having population of more than 2,000.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app