Drive launched to ensure all households have bank accounts

: Branches of all banks in Puducherry and outlying regions have launched a campaign under 'financial inclusion' scheme of RBI to ensure all households in the Union Territory have bank accounts without minimum balance.
A release from Indian Bank, the lead bank in the Union Territory said today that financial inclusion programme was in force in Puducherry in keeping with the directions of the Reserve Bank and also Indian Banks Association.
The release said the scheme envisaged providing banking services to residents in all villages and municipal wards in the Union Territory and it aims at what is called 'no frills small savings accounts of individuals with simplified Know Your Customer (KYC) norms and banks would not insist holding of minimum balance in the accounts.

The objective of financial inclusion was to ensure that all households in the Union Territory had at least one bank account for the family.
Seeking the cooperation of the people, the lead bank called upon the residents who do not have any bank account to approach the nearest bank branch or service area bank branch and open accounts for themselves.
Those already having accounts can also approach banks to open accounts in the name of their family members. The Financial Literacy and Credit Counselling Centre opened by the lead bank here would also render the guidelines in the matter, the release said.