Mobile Bank to cover every village by 2015: RBI

Reserve Bank of India's( RBI's)Deputy Governor, K.C.Chakrabarty said there was a plan to cover all villages through mobile banks by 2015. Every village would be financially included in the next 5 years, he said. A mobile bank is a facility under which an authorised vehicle, with officials of a particular bank, reaches a particular village at a specified time.It provides limited services like deposit or withdrawal to villagers. RBI had prepared a road map to open a bank branch in villages with appropiate space, he said. It has been decided that all the areas having a population of 2000 should get access to banking facility, he added. About circulation of fake currency, Chakrabarty said it was a security issue and police was being trained to deal with this. Allthe banks had been informed about the security features of Rs 500 notes,he said.(BS 14092010)