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Bank brass skips launch

BS Reporter  |  Mumbai 

Bank of India (BoI) had adopted Tembhali village of Maharashtra’s Nandurbar district for financial inclusion. So, it was not a surprise that the bank opened 1,400 new accounts in the village on the day the Aadhar project was launched.

The bank had an important role in the UID launch, as villagers given the identity number was also given Rs 100 each, debited to their bank account, opened in the Bank of India branch.

What surprised many was the absence of bank’s top brass on a day when both the Prime Minister and the Congress president were around to launch the UPA government’s showcase project. Some BoI officials said they had not received any invite. said this was because of ‘moral suasion’ by the ministry. Apparently, some ministry officials were not too pleased with the way the financial inclusion agenda has been hijacked by in the system. “The hijack game was started by the ministry itself. Financial inclusion was the Reserve Bank of India’s brain child, which the ministry took away,” a banker observed.

First Published: Thu, September 30 2010. 01:23 IST