The National Bank of Agriculture and Rural Development (NABARD), as part of its ongoing financial literacy campaign today launched 'Vithiya Saksharatha Abhiyan' on trains here.
The campaign, aimed at creating awareness on banking services was launched by flagging off Secunderabad -Guntur Golconda Express at Secunderabad Railway station.
NABARD Chief General Manager (Telangana and Andhra Pradesh Regional Office) Jiji Mammen, said the campaign will be through different posters (pasted inside and outside bogies) conveying messages of various components of financial services offered by banks.
NABARD Telangana and Andhra Pradesh Regional Office has spent Rs 5 crore during the year 2013-14 for financial inclusion in the united AP state. During this fiscal it proposes to spend about Rs 26 crore for financial literacy and financial technology development, Mammen told reporters during the launch event.
"As part of financial technology development, we support banking system to adopt new technology. As part of financial inclusion many new bank accounts were opened but most of the accounts have remained static due to non-operation by account holders. Though, banks are incurring expenses on maintaining the accounts," he said.
Reacting to a query on farm loan disbursal, C Doraswamy, General Manager Andhra Bank and Convenor State Level Bankers Committee (SLBC) AP, said "the banks are issuing re-loans to those who made prompt repayment. As long as there is timely repayment loans will be granted.
