Ernakulam to soon be first to achieve 100% banking

Tags: Banking
Kerala's Ernakulam district will soon have the unique distinction of being the first to achieve 100 per cent banking in the country.

The district will be dedicated to the nation as the first having 'Meaningful Financial Intrusion' on November 22.

This would take place at a function to be attended by state Chief Minister Oommen Chandy, Union Minister K V Thomas, RBI Governor Dr D Subbarao, UIDAI Chairman Nandan Nilekani, among others.

This was disclosed by bankers at a press meet here. Bankers in the district have been moving together for more than a year to achieve this goal, the process of which began at the instance of Dr Subbarao during his March 22, 2011 visit.

The bankers said the district with more than six lakh households and more than 32 lakh population has over 37 lakh savings bank accounts.

Multiple bank accounts are very common and even migrant labours are allowed to open them, they said, adding this was possible due to presence of 41 commercial banks, one Regional Rural Bank, one District Co-operative Bank and strong presence of co-operative banks.

The press meet was addressed by S Jayamohan Nair, Deputy General Manager, Union Bank of India, C V George, General Manager, RBI, Kochi, K D Joseph, Assistant General Manager, RBI, Thiruvananthapuram and K R Jayaprakash, Lead District Manager.

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