A resident of Paravathur village in Arakkonam taluk, P.S. Mani, has been making a persistent plea to the Centre for opening a small branch of a nationalised bank in the village on the grounds that the nearest bank branch is 15 to 20 km away from the village.
On behalf of the villagers, he said he has been making repeated representations to the Union Finance Minister since 2000 for opening a branch of a nationalised bank in Paravathur village, which does not have any bank branch, but in vain. Villagers have to go either to Sholinghur, Arakkonam or Tiruttani, which were located about 15 to 20 km away for bank transactions.
Enquiries with the zonal office of the Indian Bank, lead bank for Vellore district, revealed that any new bank branch could be opened in a village only by that bank which has been allotted the particular village under the Service Area Approach. However, it is for the District Level Bankers’ Committee headed by the Collector to decide on any change in the location of a bank.