Daijiworld Media Network – Udupi (NR)

Mangalore, Aug 11: Corporation bank has started a novel banking system. A concept whereby there will not be any branch of the same, in two villages of Dakshina Kannada. This system is undertaken on a pilot basis and will be introduced in 200 villages soon, sources informed.

Parenki near Madantyar and Surinje near Suratkal have been selected for this pilot project. One person has been selected from both the villages. An electronic machine has been given to them for day to day transactions.

At the same time, smart cards have been distributed to the customers. Printed receipt will be given to the customers for their every deposits and withdrawals conducted. The nearest branch can observe and keep track of the daily transactions at the end of the day, by looking at the electronic machine.

This system will prove to be a boon to customers, who can avoid going to distant places even for small transactions. As of date the people of Parenki have to travel about 6 kms for banking purposes. Now due to this new banking system without a branch, the locals can save on an average Rs 10 at the end of the day, sources informed.