A recent press report said that the state of Kerala is likely to set benchmark for all by trying to get the top place and being the first to achieve 100% financial inclusion in the country.
Ms. Archana Bhargava, executive director of Canara Bank told the press that an announcement confirming that the state likely to hold the top place and first to achieve 100% financial inclusion in the country is likely to come up by month end.
Reports said that the state has a total of 127 villages and all the banks in Kerala which have been asked to achieve the job of financial inclusion have reported that the task would achieve completion by month end.
A report also said that Canara Bank has opened 1.30 lakh no-frills in Kerala, as part of its goals and Ms. Bhargava said that with around 6 lakh villages present in the country, a mere 30,000 have banking amenities reached out to them till now.
Canara bank has recently brought down the rates of interest on housing loans and home improvement loans by 50 basis points across all slabs and tenures as an offer for the festival season. The bank has announced a retail loan festival from October 10 to January 15, 2012, where the special rates will be applicable.