Mysore comes under total banking

Mysore will join 10 other districts in Karnataka under the complete financial inclusion, bringing all eligible families in the district within the banking network, a Government of India and RBI scheme now being implemented by all banks.

Around 404,284 families, of the 545,741, already have accounts in one bank or the other in Mysore district. In a record three-month-long campaign launched on June 14, 106,774 families have been brought under the banking network newly.

While Mysore will be formally declared a total banking district on September 27, the remaining districts will achieve networking of families with banking system before September 30, State Bank of Mysore zonal deputy general manager G V Nataraj said in Mysore.

"As a lead bank we took the initiative in Mysore, conducted house to house survey, and persuaded families to open an account in the bank. Where families could not pay the minimum deposit, we have brought them under "" zero balance "" accounts. They can pay the minimum deposit later," he said.

Around 40 banking institutions, comprising private, nationalised, Grameena bank and district co-operative bank took part in the campaign.

"This is the first stage. In the second stage, credit cards are proposed to be issued to the account-having poor families to eke out a livelihood."