As there appears to be no end in sight to the misery of the common man owing to the demonetisation of Rs. 1,000 and Rs. 500 notes, banks have decided to help at least 80,000 people of 12 villages in Mandya and Ramanagaram districts by making their localities completely-cashless.
To promote digital banking activities among the villagers, under the high-profile Savings Bank Cashless Transactions Scheme (SBCS), banks have decided to adopt eight villages in Mandya and four in Ramanagaram and digitise all financial activities here.
Mandya
While Vijaya Bank – which made Chandagalu the first cashless village in Mandya district in April this year – has adopted Hosa Holalu and Thubinakere villages, State Bank of India and State Bank of Mysuru have each decided to help three villages to go cashless.
Cash transactions at eight villages will be bypassed before January 26, 2017, as the digitisation of banking activities are safe and speedy. The banks will provide infrastructure free of cost to the villagers for this purpose, N.G. Prabhudev, manager, Lead Bank of Mandya (Vijaya Bank), told The Hindu here on Tuesday. “Whether they have to buy a Rs. 1 matchbox or a highly-priced television set, the villagers will not have to pay cash or issue cheques post-digitisation,” he said.
Ramanagaram
According to B. Prakash, manager, Lead Bank of Ramanagaram (Corporation Bank), the Bank of Baroda has selected Vandaraguppe to develop. The remaining three villages will be adopted by other banks shortly.
The banks are aiming to push for digital transactions since the demonetisation came into effect, B.R. Mamatha, Deputy Commissioner of Ramanagaram, told The Hindu.
Infrastructure
According to the officials concerned, the banks will provide and enhance knowledge on the Electronic Payment System [Internet and mobile banking] to at least 80,000 account holders of 12 villages in Mandya and Ramanagaram districts.
ATM counters will be set up and high-speed Wi-Fi facilities will be offered in the villages. While account holders will be provided debit cards and Rupay cards, vendors and merchants [even petty shop owners and pavement vendors] will be provided with swiping machines to provide cashless banking services to their customers, Mr. Prabhudev said.
The Vijaya Bank has already launched a drive to create awareness among the villagers for the success of the scheme.
