Press Information Bureau

Government of India

Ministry of Finance

16-March-2012 14:04 IST

Financial Inclusion Scheme ‘Swabhimaan’ to be Extended to Habitations with Population of More Than 1000 in North Eastern and Hilly States and More Than 2000 in Other Habitations as Per Census 2011

The Union Finance Minister ShriPranab Mukherjee has proposed to extend the ‘Swabhimaan’ campaign to habitations with population of more than 1000 in North Eastern and hilly States and to other habitations which have crossed population of 2,000 as per Census 2011.

Announcing this during his Budget speech the Finance Minister Shri Mukherjee informed that out of 73,000 identified habitations that were to be covered by March 2012, about 70,000 habitations have been covered so far under the ‘Swabhimaan’ campaign. As a next step, Ultra Small Branches are being set up at these habitations, where Business Correspondents would deal with cash transactions.

In 2010-11, ‘Swabhimaan’ campaign was launched to extend Banking facilities through Business Correspondents to habitations having populations in excess of 2000.

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DSM/RC/SKS/11

Financial inclusion expansion broadens rural banking access via business correspondents and ultra small branches in newly eligible habitations. The Financial Inclusion Scheme 'Swabhimaan' is being expanded to include additional habitations based on census-defined population thresholds, extending coverage in North Eastern and hilly areas at a lower threshold and other areas at a higher threshold. The extension uses the Business Correspondent model and establishment of Ultra Small Branches to deliver cash transaction services, following substantial completion of the initial coverage phase.