State Bank of India has come up with another creative move to make the Financial Inclusion Plan a success . The bank has launched a new project known as “ Bank on Bike” at Cheriyal in Medak on pilot basis for a period of one month.
Through this service the bank plans to benefit the customers in the unbanked areas of the district. If the project proves to be a success then the bank has planned to expand this service further to 400 villages by March this year.
For the purpose the bank has appointed Business Correspondents, these correspondents would carry laptops and a data card to access the SBI site. It is based on biometric system to avoid any kind of fraud and due to this, even illiterate people will be able to access their bank account safely.
According to the official this project aims at providing the banking facilities to the people that are in unbanked areas with less cost and within short time span.
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