The Hindu : Front Page : Bank's centenary gift to villagers

Online edition of India's National Newspaper
Thursday, Dec 14, 2006
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Bank's centenary gift to villagers

Syed Muthahar Saqaf

All families in Natrajapuram panchayat made account holders

RARE EFFORT: V. Sabarathinam, Natarajapuram panchayat president, extreme right, with residents showing their passbooks. — Photo: M. Moorthy

TIRUCHI: A unique `centenary celebration' gift from Indian Bank to the Natarajapuram village panchayat has turned all families in the local body into its customers.

The Tiruverumbur branch of the bank has permitted about 300 and odd family cardholders of the village to open `no frill' savings bank account. The villagers were all exempted from maintaining the minimum deposit.

Till now there are 100 account-holders from the village.

Thanks to the joint initiative taken by A. Kaliyaperumal, Senior Manager of the branch, and V. Sabarathinam, panchayat president. Mr. Sabarathinam had earned the goodwill of the bank by assisting officials in recovering loans, one of the reasons for selection of the panchayat for the gift, said Mr. Kaliyaperumal.

By opening the accounts, the villagers have gained eligibility for overdraft upto Rs. 5,000 sans security. The DGM of the bank, R. Ravi, handed over the passbooks to the villagers at a function last week in the presence of the marketing officer, A. Asokan.

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