KOCHI: Ernakulam will make a landmark in the history of banking when it becomes a district with 100 cent banking habit. The declaration is to be made on March 24.

The achievement comes at the end of a laborious exercise done in the district. The efforts were initiated by the Union Bank of India, the Lead Bank for Ernakulam district, a few months ago.

The idea was discussed at a meeting of the Special Consultative Committee for Banking Development. The committee was constituted in tune with the policy initiatives of the Reserve Bank of India as well as the State-level Bankers' Committee.

The task needed the cooperation of all banks including commercial banks, district cooperative banks, service cooperative banks and regional rural banks. This apart, the support of Kudumbasree representatives was solicited to make the programme a grand success. The campaign focussed on opening of bank accounts by families that did not have banking habit. They were encouraged to open `No frills' accounts. These accounts permitted zero balance. Those below the poverty line were provided with special facilities for taking loans. For instance, they could take loans up to Rs.25,000 on liberal terms, said M.P.Varghese, Deputy General Manager, Union Bank of India, Ernakulam.

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