Public sector Punjab National Bank (PNB) will distribute about 25,000 bio-metric cards by next month to the economically weaker sections of society.
In the first phase, the scheme has been launched in the operational areas of PNB’s six pilot projects in Uttar Pradesh.
The bio-metric cards are being distributed in Rae Bareli, Ballia, Muzaffarnagar and Saharanpur districts, PNB General Manager (Field) NK Mehta told Business Standard.
“So far, about 16,000 bio-metric cards have been distributed and by the end of this fiscal, we will reach a figure of over 25,000,” he informed.
Shaped like any regular credit card, these smart cards carry the photo and name of the card holder. Once a bio-metric card is inserted into a handheld and online device along with the thumb impression, an audio clip plays the name of cardholder, which validates the authenticity of transaction.
“The smart card allows the cardholder to perform normal banking transactions like deposit, withdrawal, transfer of funds and taking loan,” Mehta added. Integra is PNB’s technical partner in this project for UP.
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This apart, the bank is in the process of setting up a Farmers’ Training Centre (FTC) in Akbarpur.
“The proposed FTC would be the ninth such centre in the country set up by PNB. We are in talks with the state government to partner in the cause,” he said.
PNB had already entered into an agreement with Mother Dairy to benefit the milk producers. Through this partnership, the bank has brought milk farmers of 23 districts into the banking fold.
The tie-up would ensure better prices for their produce and time-bound payment through smart cards distributed by the bank.