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PNB Launches Pilot Project of
Financial Inclusion
New Delhi, September 17, 2008
| Speaking on the occasion Dr. KC Chakrabarty, informed that
PNB endeavors to give a major thrust to financial inclusion
and hoped to enhance its customer base to 10 crores by 2010.
PNB is committed to make its services easily accessible to
common man at national level and more particularly in the
Indo-Gangetic belt, where bank has dominant presence. |
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He also informed that PNB is launching this Pilot Project in
Mandi Azadpur for opening "No Frill Accounts" of people
working as labourers for financial inclusion. By engaging
Technological Solution Provider, FINO, Bank is issuing
Biometric enabled Multi-Application Smart Cards to these
people. These Smart Cards are unique fool proof IDs for the
customers. This card contains customer's demographic data,
relationships and fingerprint. This card allows customer
identification without any requirement for a PIN/password, as
in traditional channel delivery system, for operation of
accounts. This technology also ensures that that there will be
no duplicate identity created for the same customer.
He also added that, PNB is celebrating 2008 as "Year of
Financial Inclusion'. PNB has already achieved 100% financial
inclusion in more than 11000 villages, covering 198 identified
districts. Under financial inclusion mission Bank plans to
cover 30000 villages by 2010 by making use of Business
Facilitators and Business Correspondents.
Mangat Ram Singhal, Minister for Industry, Labour &
Employment, Govt. of Delhi, during his address, praised Bank's
Management & Delhi Circle of PNB on the launching of Pilot
Project of Financial Inclusion and celebrating 2008 as "Year
of Financial Inclusion".
The bank has recently opened over 67000 "No Frill accounts"
under financial inclusion at various locations in Delhi giving
financial assistance to urban poor. India's first Micro
Finance Branch has been opened in Mukandpur, Delhi with an
objective of Financial Inclusion of the entire area. The
Branch was opened with 11,000 No Frill Accounts and about 100
borrowers under Self Help Groups. As on date, the total number
of accounts in the branch is 13,045.
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