Banking

Karnataka’s Sherewad is now a digital banking village

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In a move towards realising Prime Minister Narendra Modi’s Digital India dream, Karnataka Vikas Grameen Bank (KVGB) has declared Sherewad as a digital banking village.

The digitally enabled villagers could use technology on various platforms of banking transactions, especially during payments and transfer of money. They will also be availing the facility of cashless banking through the digital mode, the Hindu quoted an official communiqué as stating recently.

“KVGB has played a key role in the development of rural areas and also raising the living standards of the farming community over the last four decades,” said Arun Srivastava , Managing Director and Chief Executive Officer of Syndicate Bank.

Furthermore, Srivastava from Syndicate Bank has urged the villagers to make optimum use of digital banking activities for fast and secure transactions.

The entire village turned digital and the residents are making cashless transactions and thereby, a remote village of North Karnataka, Sherewad, has now been put on the national map, he added.

The bank has set a target of declaring nine villages as digital villages in the first stage. The bank will continue to roll out innovative and convenient solutions for customers in both urban and rural India, leveraging technology, the communiqué added.

Of the 4,415 people in the village, 4,003 had bank accounts. As many as 3,916 accounts had been Aadhaar seeded and 3,964 accounts were linked with mobile banking facility. The bank has issued 3,803 Rupay and 25 Kissan cards and all cards have been activated.

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