Union Bank of India, as part of its business building initiatives, is looking to expand the 'Banking Habit Villages' programme in Andhra Pradesh. | |
| "The idea is to ensure that all families in a village have a bank account and access to our various services. For this, the bank is deputing field staff and providing office space with Internet and other facilities at its rural branches," C Abraham, bank's regional manager, said. |
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| The project has already been implemented in over 240 villages in the state and plans are on to extend it to other areas. The bank would conduct a survey of a particular region for assessing the banking needs of the people and would also work with self-help groups to identify the people, understand their earning and spending patterns to devise services and products that suit them. |
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| Under this project, the bank provides a smart card apart from opening a savings account. The smart card can be used for accessing pensions, claiming wages under the National Rural Employment Guarantee Scheme and other social security programmes. So far, it has issued about 6,000 smart cards in various districts. It will issue another 150,000 cards shortly in Warangal, Karimnagar, Medak, Mahboobnagar, Chittoor and East Godavari districts. "The smart card can be used at the local grocery stores too," said Abraham. |
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| The bank has also initiated Village Knowledge Centres to impart knowledge to farmers on the new developments in cultivation and harvest, right use of fertilisers and pesticides for better yield and higher income. So far, there are 14 such centres in the state and this would be increased in the current financial year. |
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| On Friday, the bank launched its reverse mortgage scheme across the country and is working to open its overseas branch in Hong Kong shortly. It would also launch Union M-Pay for transfer of funds through mobile this month besides adding another 50 branches to the present 156 in the state, he said. |
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