Bhopal: CBI to lay stress on digital banking

BHOPAL: Central Bank of India (CBI) CMD organised State Level Bankers' Committee (SLBC) meeting in second phase of multi-level consultation and ideation, on Thursday.

They laid stress on promotion of digital banking and cashless transaction in the country. CBI’s CMD and CEO Pallav Mohapatra said that digital banking hardly costs Rs 2 per transaction while ATMs operation costs Rs 22.

If a customer visits banks for transactions, it costs Rs 50 on banks to provide banking services. This is the reason our main aim is to promote cashless transaction and digital banking in the country,” he added.

“Central bank has adopted Betul district to provide it full connectivity by 2020. ATMs are being phased out from metros. But ATMs will remain there in rural areas just because of connectivity.”

“In addition to farm loan, bankers stressed on financing on water conservation in rural areas as water level is receding even in rural area. So this is more important.”

He said, “All banks conducted Multi-level consultation and ideation just couple of days ago within given frame work and target in 85,000 branches in Madhya Pradesh, and now it is second phase with presentation of bank officials. The feedback will be forwarded to centre for last phase of policies making by the government.”

“Bank officials have focused on agriculture sector, corporate sector, MSME for promotion of Indian economy to $5trillion. The entire process is to boost Indian economy by banking reforms in the country.

The banks and branches which have not performed will be specially focused for improvement as per guideline of RBI.”

In addition to SLBC meet, Central Bank of India conducted Mega recovery drive in which bank settled 1045 accounts of Rs6.58 crore and One Tine Settlement (OTS) Rs3.95 crore.

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