SBH issues smart cards in 3 villages
As part of its financial inclusion programme, the State Bank of Hyderabad on Wednesday issued biometric smart cards to beneficiaries in Zamistapur, Kotakadira and Gaddeguda villages of Mahboobnagar district.
These are part of a set of 81 villages in the district with a population above 2,000, where SBH plans to provide financial services through banking correspondents.
The bank would offer savings account, variable recurring deposit and term deposit in the deposits category, and overdraft in recurring and term deposits in loan category.
All citizens of the financial inclusion villages would also get a general purpose credit card and a kisan credit card, according to an SBH release.
SBH plans to implement its financial inclusion programme in two phases. In the first phase, it would cover 300 villages by March 2011, of which it has already commenced operations in 261 villages in Andhra Pradesh and Karnataka.
In all, it plans to cover 1,102 villages in AP, Karnataka, Maharashtra and Gujarat with a total population of 4.3 million by March 2012.