Lakshmi Vilas Bank today announced implementation of financial inclusion in Tamil Nadu through an extension of its banking services by appointing business correspondents across the state.
The bank plans to reach out to the underprivileged sections of society through availing the sevices of business correspondents like NGOs/self-help groups, MFIs and other civil society organisations.
The State Level Bankers’ Committee (SLBC) of Tamil Nadu has allotted 53 villages to LVB for promoting financial inclusion. These 53 villages are spread over 18 districts and are mapped to 42 branches of the bank in the state.
Speaking on the launch of the financial inclusion drive, PR Somasundaram, managing director and CEO, said, the bank was extensively involved in social sector lending throughout the country. Over 200,000 customers directly benefit from its social sector lending programme.
For implementation of the financial inclusion solution, the bank has tied up with Atom Technologies Limited.
