State Bank of India (SBI), the country’s largest public sector lender has introduced ‘Bank on Wheel’ project in Nagaland to deliver banking services at the doorstep of rural people even where there is no branch.
Under financial inclusion programme, the bank has launched ‘Bank on Wheel’ as 70% to 80% of the people in Nagaland did not have access to banking facilities. The bank assigned Nagaland Development Outreach (NDO), a development arm of Nagaland Baptist Church Council (NBCC) to deliver SBI services.
Under Bank on Wheel project, the mobile banking van will visit five to six villages twice a week to facilitate the rural people open accounts and during the first phase, the NDO will cover villages having a population of 2,000 and more without banking facilities within March. In the second phase, which will commence from April, the mobile van would go to the villages having a population of 1,000 and above.
