In response to RBI’s directive, Central Bank of India has charted out aggressive plans to extend affordable banking services to the country’s large population of disadvantaged and low-income earners.  In the current FY ending Mar 2011, the bank envisages covering over 1600 locations with branchless banking service counters in the country in various States.

Under this FI program, Account Opening Forms prescribed by RBI shall be collected along with Photograph and Biometrics of unbanked citizens. No Frills Account (as per RBI guidelines) shall be opened in link branches of Central Bank of India  for all the enrolled citizens. All account holders shall be given Smart cards. All these accounts shall be serviced by IT enabled Points of Service (branchless banking counters) being established at select villages. 

The program is implemented in 5 Lead Districts viz. Deoria, Etawah, Auriya, Ballia, Kushinagar in the State of Uttar Pradesh and 1 Lead District viz. Gwalior in Madhya Pradesh. Synapse Solutions is the Business Correspondent for the Project.

This FI program commenced from the month of October 2010, starting with citizen enrolment camps in the villages. The program will cover 1 Million customers