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Banking for villages

india Updated: Feb 27, 2010 01:40 IST

Finance Minister Pranab Mukheree on Friday said that villages with a minimum population of 2,000 would get banking facilities by March 2012.

State owned banks, which would chalk out a clear plan of action for the same, would be required to cover 60,000 habitations either through banking correspondents — an authorised agent who can carry out banking activities on behalf of a bank, or set up a branch, the minister said.

Mukherjee added that a high-level committee set up by the Reserve Bank of India has already submitted its recommendations.

The move would ensure that people do not have to travel 20-30 km to access a bank.