Bank branches into a tribal hamlet


Chinnamuthu, a 30-something school dropout belonging to the Kota tribe in Tiruchigadi hamlet, near Kotagiri in the Nilgiris, now holds the impressive title of Banking Correspondent. On behalf of Indian Overseas Bank, armed with a handheld device linked to the bank’s Ooty branch, he can receive deposits, authorise withdrawals and permit overdrafts to his fellow tribals as well as others in the neighbourhood. Financial inclusion is finally beginning to happen.

Reserve Bank of India’s Deputy Governor, Dr. K.C. Chakrabarty, who is spearheading the movement across the country, explains, “We have been talking about it ever since nationalisation, but what makes us optimistic now is that we have the necessary technology. Inclusion is not only possible but also profitable”.

Kotas are one of six primitive tribes in the Nilgiris, numbering about 1,500 and occupying seven Kokals (hamlets) across the district. Traditional smiths and musicians of the hills, the new-generation Kotas, however,have taken up modern pursuits........Read More

 

Source: Business Line


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