Maharashtra brings labourers in banking ambit

In a bid to bring in more than 4.5 labourers in Maharashtra, both organized and unorganized, under the ambit of banking system, Maharashtra Government on Sunday launched the ambitious project of Labour Management system and Financial Inclusion of Labour in Banking System.

In a bid to bring in more than 4.5 labourers in Maharashtra, both organized and unorganized, under the ambit of banking system, Maharashtra Government on Sunday launched the ambitious project of Labour Management system and Financial Inclusion of Labour in Banking System.

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While launching the project, Chief Minister Ashok Chavan said the initiative will make a transformation in the state by bringing 4.5 crore of organized and unorganized labourers under the banking system.

"In the first phase, the state is planning financial inclusion of almost 2 crore labourers in the state, of which close to 1.5 crore beneficiaries are from the unorganised sector," Chavan said.

The first phase is expected to be completed in next 18 months, he said. The phase one will cover all cities and towns in Maharashtra, he said.