Lucknow: Finance Minister P Chidambaram on Friday said that very soon every village in Uttar Pradesh would have an ATM (automated teller machine).

Chidambaram inaugurated 300 new bank branches in Uttar Pradesh on Friday.

Now RBI and state government has fixed the time table to open 3000 new bank branches by March 2014.  This is the first stage of opening the bank branches in the state. Also present on the occasion was state Chief Minister Akhilesh Yadav.

The Chief Minister said that the opening of bank branches in far flung areas of the state will be helpful for the common man in mobilizing their savings. “New bank branches are also important from the view that they will facilitate the transfer of allowances to the people through bank accounts,” Yadav maintained.

Also, opening of more banks will help in accelerating the economic growth.

The Finance Minister took this opportunity to laud the Akhilesh government as he said: “The state government has scored a triple century by associating itself with bankers.”

Chidambaram expressed confidence that very soon every village of the state will have ATM facility. “Opening of 300 new bank branches in a day is nothing short of a big achievement for the state. The natives of the state will now be at ease in getting loans and managing their finances,” Chidambaram said.

It is to be noted that the Uttar Pradesh Chief Minister held a meeting with RBI governor D Subbarao on January 15 and stressed on the need to improve the ratio of number of banks and the average population in the state.
It was argued that at national level, one bank branch is available for 13,000 people against the availability of the branch for 16,000 people in Uttar Pradesh.

According to the fixed time schedule, 450 branches will be opened by June 2013, 600 till September 2013, 750 branches by December 2013 and 900 branches till March 2014. In total, 3000 new branches will be opened in the state by March 2014.   


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