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Our Bureau

Bangalore, Sept. 11

Syndicate Bank has added 1.1 million accounts after it launched a campaign for financial inclusion in July this year.

A bank release said that the bank allotted an ambitious target of 500 new account holders to each one of its 2,100 branches including newly opened branches. Mr C.P. Swarnkar, Chairman & Managing Director of the bank, led the field staff from the front in bringing the customers who were so far not able to open account in banks.

The bank introduced a no frills account called SyndSamanya to enable the underprivileged to reap the benefits of banking by accepting their accounts even with a zero balance. The release said that the accounts would help them in availing of credit facilities also in times of need. Moreover, they will remove the inhibition or the fear of interacting with bank personnel.

All the 35 regions of the bank have on an average added more than 500 accounts per branch in less than 60 days, the release added. One of the branches added more than 5,000 accounts during the above period. While about 100 branches have added more than 1,000 accounts per branch, about 1,000 branches have added more than 500 underprivileged customers to their fold.

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