August 3, 2010 1:35 PM

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Centre, RBI taking steps to extend banking facilities in rural areas

Centre and Reserve Bank of India are taking a number of measures to extend banking facilities in the rural areas. The Government has directed banks to draw up road maps for extending these facilities to all rural habituations with population over two thousand by the 2012. In a written reply in the Rajya Sabha today, the Finance Minister Mr. Pranab Mukherjee said that banks will make use of technologies to extend their services without opening branches. This, he said, is known as business development model. He informed the House that routing the wage payment of the people working under Mahatma Gandhi National Rural Employment Guarantee programme has facilitated timely and transparent disbursement.

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