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India: Banks to Make 38 Andhra Villages Cashless by Next Year
Source: http://www.egovonline.net/
Source Date: Monday, December 12, 2016
Focus: Institution and HR Management
Country: India
Created: Dec 13, 2016

Nearly 30 banks of Srikakulam district of Andhra Pradesh are going to adopt as many 38 villages to help them go cashless by next year.Each bank will adopt a village and appoint a dedicated banking correspondent to the adopted village. Since State Bank of India and Andhra Bank have more branches in the district, they will adopt more villages compared to private banks.Most of the villages selected have high literacy rate and bank accounts. Other criterias include the major percentage of the bank linkage of the Aadhar cards, internet facilities among other parameters which are must for a hassle free cashless transaction.“We have opened nearly 30,000 new bank accounts after selecting these 38 villages for the pilot project in the last few days. There will be another 6,000 to 7,000 bank accounts to be opened. We are currently on the job of brining awareness among the people about the cashless transactions and how to operate it,” said P Lakshmi Narasimham, Srikakulam Collector.he district administration is creating a platform wherein every transaction will be done using digital platform from next year onwards.After the arrangements are made, bank swipe cards will be used for every transaction in these 38 villages. The district has 38 mandals and one village has been picked up from each mandal under the project.Srikakulam is the first among all the 13 districts in Andhra Pradesh, which has come up with such novel project on the lines of some villages in Gujarat.
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