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More than 50,000 New Mini Bank Branches to be Established in Maharashtra
April 27, 2017
The Maharashtra government has asked Yes Bank, IDFC Bank, Axis Bank, and Saraswat Bank to digitize about 51,363 fair price shops in the state by equipping them with micro ATM systems. These will serve as mobile banks where individuals will be able to open bank accounts, and avail facilities such as deposit and transfer of funds, etc.
The state government has asked IDFC Bank to provide ration shops with micro ATMs in 14 districts, Yes Bank in 12 districts, Saraswat Bank in 10 districts, and Axis Bank in three districts.
According to an IDFC Bank official, they have already on-boarded 800 shops and will be covering all the districts under them soon.
