Reserve Bank of India has established an estimate of 5 years by which mobile banks would be reaching out to every village in India, according to K C Chakraborty, Deputy Governor, RBI.
Chakraborty emphatically said that in 5 years period each villager would be financially included.
Mobile bank is a mobile vehicle which goes to a specific area at a particular time. Each mobile bank is managed by a bank and is handled by bank officials.
The vehicle offers simple banking services like deposit and withdrawal to villagers. It also educates villagers regarding the advantages of banking and also liberate them from the grip of greedy money lenders.
The financial inclusion scheme of the RBI and Government of India states that banking services should be available to each village in the country whose population is 2000 and more, stated Chakraborty.
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