Towards Assuaging Social & Financial Inclusion

Banking Correspondent

To lend a helping hand in the “Nation Building” activity, the BWDC is participating in the “Financial Inclusion “effort of the RBI by becoming “Business Correspondent”. As a part of this initiative, the City Union Bank, (CUB) Kumbakonam has appointed BWDC as one of the “Business Correspondent “in the field of Rural Development and Micro Finance for a cluster of 111 villages across the state of Tamilnadu and has covered over 1,19,922 population. The responsibilities associated with the Business Correspondent assignment is being discharged to the satisfaction of CUB management. Under this, the representative of BWDC is expected to take the banking services to door step of existing customers in the specified area and to facilitate under-privileged families to open new bank accounts. So far 80,425 new bank accounts have been opened and approximately Rs. 8 lac average per month is being collected as a bank deposit from the poor people. BWDC have covered more than 40,000 individual clients under “Pradhan Manthiri Jan Dhan Yojana”.

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