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KOLKATA: Goutam Sardar, who works as an assistant at a roadside two-wheeler garage in north Kolkata's Ganguly Bagan, lost Rs 6,000 last year to a chit fund because he had no other avenues to save money. Sardar earns Rs 4,000 a month and used to deposit Rs 500 every month in the chit fund as he did not have a bank account. The only other option he had was the Jurassic-age piggy bank. The roadside mechanic does not have a voter ID card or any other identity proof to satisfy the KYC norms of banks for opening an account. But thanks to the Pradhan Mantri Jan Dhan Yojana (PMJDY), Sardar opened a savings account on Saturday only by submitting a reference letter of the local councillor.
Many like Goutam Sardar have opened their first bank accounts now. Since the launch of PMJDY in Bengal on August 18 (official launch was on August 28), the response has been phenomenal from a section of the society which includes grocery shop workers, food and vegetable vendors, drivers of private cars, workers in private garage, rickshaw-pullers — the usual pray base of chit funds. The reason is simple — one can open an account with only a thumb impression and a photograph. He or she only has to arrange a letter from the local MLA or councillor within six months to continue with the account.
United Bank of India, the convener of the State-Level Bankers' Committee (SLBC) in West Bengal, is satisfied with the progress so far. D Narang, the chairman of SLBC West Bengal and executive director of UBI, said all the public sector banks are geared up for this. "So far, UBI alone has opened 3.17 lakh accounts. The number is increasing every day," he added.
Manas Dhar, who is heading UBI's initiative in the state, said that as a whole, 8.48 lakh accounts have been opened till August 29, taking together all the PSU banks, and the figure is increasing "in geometric progression". The public sector banks have opened customer service points (CSPs) at the roadside to facilitate opening of accounts.
The deputy managing director and CGM of SBI, Sunil Srivastava, pointed out that besides branches, investor camps and customer service points are also attracting lot of people. "SBI has opened 3.5 lakh accounts so far and around 2.18 lakh is through the 'Bank Mitra' model where our banking correspondents are approaching those who have no bank accounts. SBI has opened close to 4,000 CSPs," he added.
A Biswas, branch manager of SBI Paikpara, which is getting a good response from slums in Belgachia, said a lot of people are coming to CSPs. "People like fish vendors and rickshaw-pullers do not have the confidence to enter a bank branch. They are enrolling in these CSPs," he added.
Sushant, a fish vendor in Belgachia market, who opened an account from a CSP, had never entered a bank before. "I have opened a bank account for the first time. I am not much literate; nor do I have any ID proof. It was not possible for me to have an account. Now I have a safe place to save some money," he added.
Dhar pointed out that drivers of private cars are enrolling in big numbers because of the accident cover benefit of Rs 1 lakh. "Most of them do not have any insurance though they have a risky job," he added.
Phenomenal response to bank account scheme - The Times of India
Many like Goutam Sardar have opened their first bank accounts now. Since the launch of PMJDY in Bengal on August 18 (official launch was on August 28), the response has been phenomenal from a section of the society which includes grocery shop workers, food and vegetable vendors, drivers of private cars, workers in private garage, rickshaw-pullers — the usual pray base of chit funds. The reason is simple — one can open an account with only a thumb impression and a photograph. He or she only has to arrange a letter from the local MLA or councillor within six months to continue with the account.
United Bank of India, the convener of the State-Level Bankers' Committee (SLBC) in West Bengal, is satisfied with the progress so far. D Narang, the chairman of SLBC West Bengal and executive director of UBI, said all the public sector banks are geared up for this. "So far, UBI alone has opened 3.17 lakh accounts. The number is increasing every day," he added.
Manas Dhar, who is heading UBI's initiative in the state, said that as a whole, 8.48 lakh accounts have been opened till August 29, taking together all the PSU banks, and the figure is increasing "in geometric progression". The public sector banks have opened customer service points (CSPs) at the roadside to facilitate opening of accounts.
The deputy managing director and CGM of SBI, Sunil Srivastava, pointed out that besides branches, investor camps and customer service points are also attracting lot of people. "SBI has opened 3.5 lakh accounts so far and around 2.18 lakh is through the 'Bank Mitra' model where our banking correspondents are approaching those who have no bank accounts. SBI has opened close to 4,000 CSPs," he added.
A Biswas, branch manager of SBI Paikpara, which is getting a good response from slums in Belgachia, said a lot of people are coming to CSPs. "People like fish vendors and rickshaw-pullers do not have the confidence to enter a bank branch. They are enrolling in these CSPs," he added.
Sushant, a fish vendor in Belgachia market, who opened an account from a CSP, had never entered a bank before. "I have opened a bank account for the first time. I am not much literate; nor do I have any ID proof. It was not possible for me to have an account. Now I have a safe place to save some money," he added.
Dhar pointed out that drivers of private cars are enrolling in big numbers because of the accident cover benefit of Rs 1 lakh. "Most of them do not have any insurance though they have a risky job," he added.
Phenomenal response to bank account scheme - The Times of India
