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Canara Bank plans to open small branches

Staff Reporter
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P.G. Srinivasan, AGM, Canara Bank, disbursing loan to a beneficiary at Uralipatti nearDindigul.PHOTO: G. KARTHIKEYAN
P.G. Srinivasan, AGM, Canara Bank, disbursing loan to a beneficiary at Uralipatti nearDindigul.PHOTO: G. KARTHIKEYAN

Canara Bank has proposed to start many small branches in the Tiruchi circle to take financial services to the doorstep of rural people. A total of 88,000 kisan credit cards would be issued to farmers before the end of this fiscal, said P.G. Srinivasan, Assistant General Manager of the bank.

Adopting Uralipatti in Natham block here on Tuesday, he said the bank had planned to open 80,000 no frill account this fiscal as part of financial inclusion scheme. Bank account is imperative to receive all financial benefits from the Central government. The government will credit welfare assistance directly into the beneficiaries’ account.

The circle spread over 12 districts had opened 4.71 lakh accounts. It had opened 53 small branches so far, of which 43 were in Dindigul. It had adopted 362 panchayats; of this 86 panchyats that have 2.91 lakh families were in Dindigul.

Mr. Srinivasan said that all families would be brought under financial inclusion scheme and all eligible persons in the adopted village would get pension benefits. Moreover, insurance cover would be given to all members of the family. Training on sustainable livelihood activities would be imparted to women.

In-built over-draft scheme for small traders and vendors would be extended. The account holders could withdraw amount ranging from Rs.500 to Rs.10,000 based on their repaying capacity.

Similarly, they would be eligible for new pension scheme. They could deposit Rs.1,000 to Rs.12,000 per year and on maturity the bank would refund 60 per cent of the total savings and offer monthly pension to them. After his or her death, 40 per cent of the deposit amount would be handed over to their legal heirs, he pointed out. People could pay in instalments also. The Central government would offer Rs.1,000 to the account holder. The AGM also inaugurated a training programme to SHG women at Uralipatti.

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