Canara Bank widens rural presence

Canara Bank has launched the Aaadhar Samruddi Card, an Aaadhar-enabled debit card that enables cash withdrawal at ATMs and also micro ATMs with business correspondent agents in the rural areas. At an event in Mysore, Reserve Bank of India Deputy Governor K C Chakrabarty explained the policy initiatives taken by the RBI in extending banking coverage/facilitation in rural areas and providing citizens access to credit facilities with the objective of bringing more people under financial inclusion.

Meanwhile, 10 farmers clubs have also been launched to increase the participation of farmers and involve agri-credit and rural development initiatives.

R K Dubey, chairman and managing director of Canara Bank, the bank had hired 7,500 people this year and next year it planned to hire another 7,000.

The Rural Outreach Programme, inaugurated at the event, saw the opening of a branch aimed at adopting a "holistic approach".

The bank opened 4,000 basic savings bank accounts, and linked over 80 per cent of the accounts with Aaadhar numbers. It also extended immediate credit facility by IOD (inbuilt overdraft) to over 1,000 account holders in financial inclusion villages, credit-linked 100 SHGs and 10 joint liability groups.