BoM to focus on under-banked districts

“We will also reach out to rural areas,slums and continue promoting self-employment among rural youth. BoM plans to accelerate growth of low cost deposits and introduce new facilities,products and services,” he said.

BoM has so far facilitated 19,994 self-help groups,mainly of women,and 17,919 have been credit-linked. During the year,the bank has promoted 9,500 self-help groups,taking the total to 50,743,of which 23108 have been credit-linked,with the present outstanding being Rs 131 crore,he said.

“Through the Mahabank self-employment training institutes in Pune,Nagpur,Aurangabad and Nashik,BoM has provided vocational training to over 4,600 persons in rural and semi-urban areas and tier-III cities. The total credit extended to those belonging weaker sections and scheduled caste and scheduled tribe communities,was Rs 1,920.56 crore as on March 31 while credit given to minority communities was Rs 477 crore,” said Pereira. The BoM aims at a deposit growth of 17 per cent as it already has a comfortable resource position and a credit growth of 20 per cent during the year ahead,” said Pereira

BoM also launched a new scheme under which the bank will issue the Insta ATM card as a ‘welcome kit’ to the new customers.

The bank has rolled out 798 branches under core banking solution (CBS) and CBS-enabled branches now handle 88 per cent of its business. Now,the MoB has 630 TBA branches in rural and semi-urban areas,which are proposed to adopt CBS by December this year through VSAT connectivity.