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April 8th, 2017, 11:31 AM
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Join Date: Mar 2012
Re: Ing Vysya Bank Financial Inclusion

I am providing information about Financial Inclusion of Ing Vysya Bank here for your reference:

What is Financial Inclusion:
A pure savings product with inbuilt overdraft facility
A Recurring Deposit product
A Remittance product and
Entrepreneurship credit in the form of Kissan Credit Card (KCC) / General Credit Card( GCC)

Key Objective of Financial Inclusion
Extending formal banking system among the less privileged in urban & rural India.
Weaning them away from unorganized money markets and moneylenders.
Equipping them with the confidence to make informed financial decisions.

Key Industry Initiative towards Financial Inclusion
Introduction of Business Correspondent (BC) Model for service delivery in remote areas
Extending of Direct Benefit Transfers to Aadhar linked savings accounts
Introduction of Basic Saving Bank Deposit Account (BSBDA) and Small accounts
Adoption of Information & Communication Technology (ICT) based model for enhancing outreach.
Integration of Electronic Benefit Transfer (EBT) for disbursement of Govt. Grants

Initiatives
KMBL's initiative towards Financial Inclusion (as on 31st March 2016)

KMBL has more than 7.73 Lakhs BSBDA opened under its Financial Inclusion Initiative.

The Bank has started its ICT based Financial Inclusion Initiative at Balodabazar, Bilaspur, Gariabandh & Mungeli District of Chhattisgarh, Silvassa district of Dadra & Nagar Haveli and is also present in the State of Andhra Pradesh, Karnataka, Telangana, Tamilnadu by offering E-Passbook and Smart Cards along with BSBDA.

Kotak Mahindra Bank has covered 130 villages through its own rural bank branch network.

Ing Vysya Bank Financial Inclusion Features and Benefits:



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