South Canara co-op bank banks on wheels

South Canara District Co-operative (SCDCC) Bank Ltd, a premier co-op bank in the state, has become the first bank in the country to introduce mobile banking.

Speaking on the occasion, M N Rajendra Kumar, president, SCDCC Bank, told reporters that the initial services in mobile banking would be restricted to Mangalore alone.

The final stamp of approval from the Reserve Bank of India was awaited but the bank was confident of procuring it and starting full-fledged operations by the next month.

Industrial, educational and residential areas would be the 'key targets' of mobile banking during specified hours Kumar said adding that the response hither to it was encouraging.

The 'mobile banking' van has been designed by Zenith Infotech at a cost of Rs 35 lakh.