Special Correspondent

KADAPA: State Bank of India and the Postal Department have entered into a collaboration to launch SBI-India Post Alliance in order to make available banking transactions to the financially deprived persons in the rural areas.

SBI Regional Manager N. Bhoopal inaugurated a day-long training programme for the postmasters of 24 post offices in Kadapa district to enlighten on the alliance. K.L.N. Chari of SBI Local Head Office, Hyderabad, explained about the mutual benefits of SBI-India Post Alliance.

India Post has 1.55 lakh post offices and SBI has about 11,000 branches and both have earned the confidence and trust of the people and hence their alliance would facilitate increased business to both the institutions, Mr. Chari stated.

Access to banking

People of the rural areas would get access to banking facilities at all places having post offices, D. Chandrasekhar Reddy, Assistant Director in the Post-Master General’s office at Kurnool said. Superintendent of Post Offices, Kadapa, D.V. Ramanaiah also spoke.

The postmasters were enlightened on various deposit schemes, loans and facilities being extended by the SBI.

Chief Managers of SBI M.V. Maruthi Prasad and Ravichandran and officials Basheer Ahmed and S. Nagaraja Rao, assistant superintendent of Posts Nageswara Rao and other officials participated.