SBI completes rural coverage in AP

State Bank of India (SBI) has completed its allotted financial inclusion programme in Andhra Pradesh, three months ahead of the set target.

Out of the 6,661 unbanked villages with a population of over 2,000 identified in the State for financial inclusion, SBI was allotted 1,379 villages.

“We have covered these villages through bank branches for 35 villages, Business Correspondents for 1,157, bank on bike model for 162 and bank on wheels for 15 villages,” Mr Rakesh Sharma, Chief General Manager of SBI, Hyderabad Circle, told mediapersons here on Monday.

These villages will now have access to basic banking transactions such as savings, deposit, remittances and insurance. Business Correspondents are the customer service points located in villages and equipped with a computer, printer, biometric scanning devise and digital cameras.

“We have also introduced two four-wheeled vehicles in the State which cover 15 villages,” Mr Sharma said.

The bank now plans to cover villages with population of below 2,000 in a phased manner in the next two to three years.