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Financial Inclusion: P'thitta Achieves Top Position Among Dists in Country
Pathanamthitta has become the top district in the country in financial inclusion, with banking penetration reaching 96.2 per cent of the population through the establishment of bank branches in all the grama panchayats.
Published: 30th March 2014 09:30 AM | Last Updated: 30th March 2014 09:30 AM | A+A A-
By Express News Service
With SBT playing the lead bank, Business Correspondent model banking outlets have also been opened in all the sub service areas with households up to 1500 in the district.
Among the top 15 districts in the country listed by CRISIL, which conducted studies with the support of the Union Finance Ministry and the RBI, two more districts in the state -Kottayam and Alappuzha - have also found a place. Kottayam is rated fifth and Alappuzha 15th in the ranking. SBT is the lead bank for all the three districts.
Financial inclusion has become the top priority of the Union Government and the RBI, with an avowed objective to achieve inclusive development. Financial inclusion aims at the delivery of financial services at affordable costs to low income segments of society. Lead Bank scheme is given thrust to achieve this objective.
'CRISIL Inclusix', the study of CRISIL, by which the districts were selected, is an index to measure the progress on financial inclusion by evaluating the penetration of banking services in all the districts in India.