Pics by Hemanath Padubidri
Daijiworld Media Network – Udupi (RD/SP)
 
Udupi, Feb 9: Syndicate Bank chairman and managing director George Joseph inaugurated the one-day seminar on 'Financial Inclusion: Issues and concerns,' here on Monday February 9 morning.  It was organized by the Indian Institute of Banking and Finance – Mumbai, in association with Syndicate Institute of Bank Management, Manipal and Justice K S Hegde Institute of Management, Nitte. 
 
George Joseph, after the inaugurating the seminar, said that more than 51 percent of country's population is out of the reach of financial inclusion.  The efforts to bring them within the circle of financial inclusion and agricultural growth have succeeded in adding just two percent.  Hence, special emphasis has to be laid on improving this situation.  Syndicate Bank has introduced the scheme of opening of zero balance savings bank accounts in this regard.  Syndicate Bank has around 32 lac savings bank account holders while nearly 4.5 lac accounts have remained non-operative without a single transaction in them.   Therefore, such account holders should be educated over the benefits of financial inclusion, he urged.

Syndicate Bank had introduced Pigmy accounts since 1928, and there are about 4,500 pigmy agents in its rolls so far, who collect nearly six crore rupees daily from small time investors, he explained.
 
The government has allotted an 8 acre plot in Bijapur for setting up of an Agricultural Training Institute.  Syndicate Bank has already begun issuing Smart Cards to agriculturists in Bellary district while it has plans to extend this facility to 25 districts across the nation, he added.
 
Justice K S Hegde Institute of Management, Nitte chairman Dr N K Thingalaya, in his special address to the gathering, said that 13 Indian banks made their entry into 500 top global banks, during December 2008, despite world economic downturn.  It is a healthy development for India to sustain its growth through global recession.  Around 34 lac self help-groups (SHG's) are functioning across the nation while Karnataka accounts for 10 percent of them.  Public sector banks are extending financial assistance to these SHG's, he noted.
 
Justice K S Hegde Institute of Management, Nitte director Dr M S Mooditthaya and Syndicate Bank general manager S S Rao were present at the dais.
 
R Bhaskaran of the Indian Institute of Banking Finance, Mumbai welcomed the gathering and delivered the key note address.
 
Pranamia and Krishna Hegde compered the programme.