Nabard asks SCBs to prepare a roadmap for financial inclusion

The National Bank for Agriculture and Rural Development (Nabard) has asked State Cooperative Banks (SCBs) to prepare a roadmap that would enable all primary agriculture cooperative societies (PACS) in Maharashtra to have direct access to banking services through the district central cooperative bank (DCCB) network.

The directive is along the lines of the finance ministry objective to provide direct access to banking services to all villages with a population of over 2000 by March 2012.

According to Nabard, the services should include opening of new account plans for financial literacy, issue of Kisan Credit Cards (KCC), General Credit Card (GCC) and Swarojgar Credit Cards (SCC) to all eligible borrowers for greater financial inclusion by all DCCBs.

Besides, Nabard has asked SCBs to submit proposals for seeking assistance from the Financial Inclusion Fund and the Financial Inclusion Technology Fund.

A Nabard official told Business Standard, “SCBs have been asked to help the DCCBs in their area of operation in preparation of a suitable roadmap to provide financial services to the excluded population in their area of operations. The roadmaps drawn by individual DCCBs and duly approved by the DCCB Board may be consolidated at the SCB level, and sent to the respective Nabard regional offices by May 3, 2010.”