Andhra Pradesh - Eluru   

Roadmap for TFI scheme implementation approved

ELURU: The District Consultative Committee (DCC) which met here on Tuesday with Collector A. Vani Prasad in the chair has approved a roadmap for effective implementation of the total financial inclusion (TFI) scheme in the district.

The roadmap is aimed at providing banking services to each and every village with more than 2,000 populations through a banking outlet. Bringing every household from the village into the banking fold by allowing them to open savings bank account is one of such services.

Lead District Manager R. Sankara Rao said 491 villages with 2,000 population each were identified in the district as per the 2001 census and 157 of them were already having branches of different banks. It is proposed to ensure the coverage of bank services to the remaining 334 villages.

“The banking services may not necessarily be extended through a brick and mortar branch. It can also be ensured through corporate business correspondents”, Mr. Shankara Rao said. P.S. Subba Rao, Deputy General Manager of Andhra Bank and DCC convener, informed that the DCC had achieved 91 per cent of its targets vis-a-vis TFI scheme implementation in the district in the first phase by allowing 8.62 lakh families out of the total 9.47 lakh to have accounts in different banks in the district. The pending task would be accomplished by March, 2011 in the second phase, he added.

The Collector urged the bankers to get into a war mode in implementing the TFI which was intended to insulate the gullible folks and the SHG movement from the micro finance groups.

The SHG movement built assiduously over a period of time would be disintegrated if there was any laxity in executing the TFC, she warned.

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