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LATEST NEWS UPDATES | RBI for timely payment of rural job scheme workers by KA Gupta

RBI for timely payment of rural job scheme workers by KA Gupta

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published Published on Oct 11, 2010   modified Modified on Oct 11, 2010


The Reserve Bank of India (RBI) is to consider a proposal for opening of weekly branches in unbanked panchayats in the state.

Gumla is one among the 16 districts, which have been classified as under-banked districts in the state. Delay in disbursing wages under MGNREGA and executing other welfare schemes will now be sorted out by reaching banking services to hitherto unbanked areas and new measures have also been initiated.

Before the RBI takes a decision on the proposal that came up during a special meeting of the state lavel bankers committee ( SLBC), it has taken some major initiatives towards banking outreach.

It has now permitted to engage common service centre ( CSC) as business correspondents (BCs) through which wages could be disbursed to MGNREGA labourers in time as is expected now. The government has sent directive to the district in this regard.

In a letter addressed to the chief secretary, Jharkhand RBI general manager (officer-in-charge) H N Panda has said during 2010-12, about 1,500 banking outlets are being operationalized in the state, which will reach banking services to all unbanked villages having a population of more than 2,000 and 66 of them have already been operationalised.

Also, the scheduled commercial banks have been granted general permission to operationalize satellite and mobile branches, ATMs and full-fledged branches in tier-III to tier-VI centres without prior permission from the RBI, according to him.

Satellite branches function on a a few specified days at specified hours, while mobile branches extend banking facilities through a well-protected van with arrangements for two or three officials of the banks sitting inside with ledgers, safe containing cash among others and visit the places proposed to be served by it on certain specified days and hours, according to the RBI general manager's letter. But now CSCs (known as Pragya Kendra) will facilitate wage payment under the MGNREGA.



The Times of India, 10 October, 2010, http://timesofindia.indiatimes.com/city/ranchi/RBI-for-timely-payment-of-rural-job-scheme-workers/articleshow/6721242.cms


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