Punjab National Bank the largest public sector lender has tied-up with the Society for Educational Welfare and Economic Development (SEED) to start an ''earn money and run your account'' program with an aim to provide jobs to people. The program is a part of its drive to implement a banking model for rural areas.
In the beginning, under this program opening of poultry farms and dairies in Rohtak will be taken up so as to provide employment facilities for small account holders in the area.
Besides this, to promote microfinance and micro-credit services in the remote areas through rural banking services, bank will be issuing smart cards to these account holders, which they can use by approaching panchayats, who will be provided hand-held devices to verify the transactions made through these smart cards.
There are already 1.1 lakh smart cards users in PNB’s rural banking model.
Meanwhile SEED is working for the public sector units and large companies for the implementation of their financial inclusion projects.
Earlier it has helped ONGC, SAIL, Punjab National Bank, Bank of India in planning and implementation of socially relevant projects in 11 states with technology partners TCS, HCL, and Infotel.
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