The number of banking outlets in villages, which was 67,694 during 2009-10, crossed the 2.6-lakh mark by March 2013. These outlets include brick-and-mortar branches and business correspondents (BCs).
The Union Government came out with a three-year financial inclusion plan in 2010 to provide banking facilities in un-banked areas in the country.
The annual report of Reserve Bank of India for 2012-13, which was released on Thursday, said nearly 7,400 rural branches were opened during 2010-13. However, the country had witnessed a reduction of about 1,300 rural branches during the past two decades. The number of BCs in villages, which was 34,174 in 2010, increased to 2.21 lakh by March 2013. While 447 BCs served un-banked people in urban locations in 2010, their number increased to 27,143 during 2012-13.
Business correspondents are the agents appointed by banks to provide basic banking services in un-banked areas. The number of basic savings bank deposit accounts under the financial inclusion plan was 7.34 crore in March 2010, and these accounts mobilised deposits of around Rs 5,502 crore. By March 2013, the number of these accounts increased to 18.2 crore and the deposits mobilised stood at Rs 18,292 crore.
Equipped with information and communication technology (ICT), the BCs transacted Rs 692 crore in 2.65 crore transactions during 2009-10. The technology helped them transact Rs 23,388 crore in 25.04 crore transactions during 2012-13.
The annual report noted that the number of transactions through ICT-based BC outlets, though increasing, is still very low when compared with the manifold increase in the number of banking outlets and the number of accounts.
vinayak.aj@thehindu.co.in