[AI] Make 'financial inclusion' more effective: Usha Thorat

Rajesh Asudani rajeshasudani at rbi.org.in
Fri Sep 21 00:57:58 EDT 2007

Make 'financial inclusion' more effective: Usha Thorat 

Special Correspondent 

BANGALORE: Canara Bank's initiative of launching the first of its nine biometric-access ATMs, should be considered beyond the initial investments involved,
as a move that will grow the bank's business in the long run and make the 'financial inclusion' policy more effective, Reserve Bank of India Deputy Governor,
Usha Thorat, said here on Thursday.

Biometric-access ATM 

After inaugurating the first such ATM and 'smart cards' that even illiterate villagers can easily use, she said the RBI would be involved in a joint effort
by major banks to reach the banking concept to all regions in India, through a special exhibition on rails.

Ms. Thorat also suggested some of the women self-help groups that attended the event at Devanahalli, 30 km from Bangalore, could be helped to visit women
in rural U.P. and Bihar and explain to them how micro credit could empower them. Mobile ATMs of the type being introduced by Canara Bank would help villagers
access banking beyond the usual working hours. 

Canara Bank's CMD, M. B. N. Rao, said, the bank which conducted a total business of Rs. 240,000 crore last fiscal had so far introduced 6.5 lakh 'Cansaral'
bank accounts easier to use by rural customers and the target was to add 10 lakh more such accounts this year.

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