Kerala district to be first with bank accounts for all adults

Written by RajeshRavi | Kochi | Updated: Oct 6 2012, 07:17am hrs
After achieving the distinction of being the first district in the country to achieve 100% literacy, Ernakulam is on way to become first district in the country to have bank account for every adult.

Each adult will have an access to credit based on his banking history at nominal interest rate and an insurance coverage, Jayaprakash KR, Lead district manager of Ernakulam told FE.

The district is already ahead in some of the major criterion of development.

A survey conducted by Kudumbasree Mission revealed there are nearly 20% adults in the district without bank accounts. Banks will offer the remittance services and micro-insurance policies to these people. It is intended to complete the process by end of October 2012, he added.