Canara Bank launches kiosk banking services through Akshaya


Trivandrum: As a part of its initiative to extend financial inclusion, Canara Bank has launched banking services through Akshaya centres in Kerala. The project that would enable the Bank to extend services to the rural areas was launched at a function held in Thiruvananthapuram.

Speaking on the occasion, Rajeev Kishore Dubey, Chairman & Managing Director of Canara Bank said, “The Bank is launching a new financial inclusion initiative. The project will enable the bank to offer its services at a point nearest to the customer. The Akshaya centres will act as hubs for financial activity and deepen the financial inclusion process. Once the Akshaya centre-based facilities become viable, they can also provide full-fledged banking services.”

The project has been undertaken in compliance with a Union Finance Ministry directive that every ‘sub-service area’ of 1500 households has to be covered by a banking channel. In Kerala, 1480 such sub-service areas have been identified for coverage, of which Canara Bank will cover 138. The bank had tied up with Akshaya to cover 92 of them. Initially, using the Aadhaar-based facility, customers can open accounts, withdraw or deposit up to Rs. 2,000, remit /transfer funds for credit of account with the bank. All transactions will be done online and with biometric authentication of the account holder without any additional charge. The bank has rolled out the facility in partnership with CSC e-Governance Services India Ltd and the Akshaya Project.

P Balakiran, Director of Akshaya Mission said, “Akshaya centres are ideal locations for starting banking services. There are two factors in banking – trust and service. Both are in-built in Akshaya centres”.

V K Chopra, Deputy Secretary, Ministry of Finance, GoI; Bhagwan Patil, CEO, CSC e-Governance Services and senior Canara Bank officials were present on the occasion.

Meanwhile, Canara Bank has opened its first e-lounge in Kerala. The CMD inaugurated the facility at the Sasthamangalam branch in Thiruvananthapuram. The lounge would work on a 24×7 basis and provide facilities like ATM, a cash deposit kiosk, self passbook printing kiosk, internet banking and online trading. A coin vending machine will also be installed soon. Another 10 e-lounges would be installed in Trivandrum and nearby places in the next six months.

Kerala Biz News


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