Puducherry achieves 100% financial inclusion

The union territory of Puducherry has achieved 100 percent banking coverage under the financial inclusion project announced by the central government in 2005.

Announcing the completion of financial inclusion, N Rangasamy, chief minister said, “I am very happy to announce that the financial inclusion has covered villages with less than 2,000 population along with villages with more than 2,000.”

He also urged the people to utilise the banking services for their needs including savings and loans.

Puducherry is the first among states and union territories in the country to ensure banking services to all villages with below and above 2,000 population, claims Indian Bank.

Chennai-based Indian Bank was the convenor of the State Level Bankers’ Committee executing financial inclusion here.

In the second phase, the member banks introduced the smart card technology to facilitate doorstep banking in the unbanked areas, said Indian Bank officials.