SBI’s kiosk opened in Warangal village

HYDERABAD: As part of the RBI's financial inclusion programme, State Bank of India (SBI) said its regional office in Warangal has so far appointed 38 business correspondents in the district. “Several measures are being taken by the Reserve Bank of India under financial inclusion programme with an aim to deliver the financial services at an affordable cost to the vast sections of disadvantaged and low income groups especially in rural areas,’’ said A S Rao, regional director, RBI. Addressing the gathering after inaugurating one of the SBI's kiosk in Veeraram village, a predominatly tribal village with low literacy rate today, he said RBI has chalked out an ambitious plan to cover about one lakh villages over the next three years. According to SBI, since the technology adopted for the kiosk platform is robust and foolproof, the government of India and RBI has envisaged the financial inclusion programme as a successful tool in implementing the welfare programmes effectively as the end use of funds is ensured to reach the targeted beneficiary. “The rural people will receive the payments from government directly through their accounts in a cost-effective and easy way. As the finger print-based biometric technology is being used, the system is foolproof and safe to customers. Account opening in this model is simple and easy,” Ashwini Mehra, general manager, SBI said. Giving details about the features and benefits for the rural people, Mehra said, the bank has been issuing smart cards for account-holders and that the financial inclusion programme will be aligned with UID project -- Adhaar' at a later stage. Meanwhile, SBI's regional director distributed loans worth Rs.1 crore to 40 SHGs in Maripeda mandal in Warangal district.