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THE ECONOMIC TIMES
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17.10.07
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| 100% banking access in Cuddalore district |
ALL households in Cuddalore district, 200 km south of Chennai, have
gained access to banking services, making it the first district
in the state to achieve this distinction, according to a survey
done by Indian Bank, Cuddalore's lead bank. State-owned Indian
Bank, which coordinates with financial institutions and government
agencies in Cuddalore district, said 5.11 lakh households in
the district have access to banking system, thanks to the introduction
of no-frills accounts basic services provided at very low cost.
This initiative to make banking services accessible to those
willing and eligible in the district started in July 2006. About
2.75 lakh new accounts have been opened in the last one year
- in over 165 branches of different banks operating in the district.
Indian Bank covered 1.27 lakh households, State Bank of In-dia
74,000 and Indian Overseas Bank 50,000, a senior official from
Indian Bank said.
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