Vijaya Bank, Regional Office Hubli, has sanctioned loans of Rs 1.24 crore benefitting 212 people under the Financial Inclusion Programme (FIP) in Arlikatti and Tarihal villages in Dharwad.
According to Mr B.A. Tata, Regional Manager, Vijaya Bank-Hubli, the money was distributed under schemes such as Vijaya Kisan Card, Vijaya General Credit Card, Joint Liability Group, Self Help Group, and Education Loan.
The bank also launched services at unbanked villages through the business correspondent (BC) model using hand-held machines and by distributing biometric smart cards. “Through this we have provided opportunity to customers to withdraw or remit up to Rs 2,000 a day and they can also operate loan accounts like General Credit Cards and make insurance payment,” said Mr Tata.
Speaking after handing over the hand-held machines to the business correspondents, Nabard, AGM Mr Y.N. Mahadevayya advised farmers to make use of the interest subvention scheme by making prompt repayment of crop loans. “In FIP all villagers should get financial assistance from banking system, instead of depending on private money lenders.”
He said that Nabard is supporting reimbursement of 40 per cent of cost of financial inclusion programme implementation.