State Level Bankers' Committee, Tripura
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Financial Inclusion Plan
SLBC Schemes
Objectives of SLBC
  • To review the assistance required and provided by Govt. agencies.
  • To oversee the implementation of branch expansion programme.
  • To review the recovery performance.
  • To consider problems referred by the district level forums and take necessary follow-up action.
  • To solve operational problems in implementation of Service Area Approach, Credit Plans, Govt. and other agencies programmes etc.
Financial Inclusion Plan

Monitoring mechanism to periodically assess and evaluate the progress made in achieving the roadmap to provide banking services within the time frame prescribed

  • The LDMs of all the four districts of Tripura have been advised to monitor the issue on a regular basis and submit monthly report to SLBC on the progress of extending banking outlets as per settled roadmap.

  • In UBI, BREDS is functioning as Business Correspondent in all the four districts of Tripura. CSPs have been set up in 43 villages having 2000+ populations. Tripura Regional Office is monitoring the activities of these two districts. The bank’s Financial Inclusion Cell set up at Head Office is also monitoring the entire exercise. 

  • SBI is also implementing the process in the villages allotted to it. For monitoring purpose the bank has engaged Channel Management Facilitators from amongst the retired Officers who are working in the State. These apart, other Officers of the bank are also monitoring the progress of engagement of BCs/ extending banking services in the allotted villages.

  • TGB has already engaged two BCs viz, Senrysa Technologies, Agartala and ARK Informative Society, Agartala mainly for making payment under NREGA and NOAP schemes. As per roadmap submitted TGB is supposed to open banking outlet in 82 villages having 2000+ population through BC model. Their HO at Agartala is monitoring the activities of the BCs.

Identification of unbanked / underbanked areas for providing banking services in a time bound manner with a view to achieve 100% Financial Inclusion:

In Tripura 419 nos. of unbanked villages having 2000+ populations have been identified and allotted amongst different banks for setting up of banking outlets within March 2012. The roadmap for 419 villages has also been finalized. We are yet to receive the list of unbanked villages having population less than 2000 from the Rural Development Deptt., Govt. of Tripura. A copy of the roadmap for villages having 2000+ populations is annexed.

Specific issues inhibiting and enabling IT enabled financial inclusion:

  • With a view to accommodate large number of beneficiaries associated with various Govt Schemes viz. MGNREGA, NOAP and other social security schemes, payments need to be made at the doorstep of the beneficiaries through ICT based Business Correspondent model which entails additional expenses for implementation and operation.

  • As per estimation carried out by IBA, the break-even cost works out to be around Rs 7.00 per transaction and transaction cost works out to be 3.50 % of the transaction volume. For each account opened, the capital cost would be around Rs 240.00.

  • Bankers commonly prefer for compensation on transaction cost to be allowed by State/Union Government for ICT based Financial Inclusion. The State Govt. has decided to share a portion of transaction cost to RRB and Coop Banks only but not to the Commercial Banks. The State Government may, therefore, reconsider the issue. It is also learnt that Central Govt. is also contemplating bearing a portion of the capital cost which would remove the impediment to ICT based FI.

  • Reimbursement of Capital Cost by NABARD/RBI/Govt. would further facilitate ICT based financial inclusion.

  • In the districts already identified for 100% Financial Inclusion, identification of households left out for Financial Inclusion has been a problem. The Panchayat functionaries may assist the banks in identifying such households.

  • Improvement in Infrastructure facilities would facilitate easy accessibility to villagers in some distant parts of the State.

Issues to facilitate ‘enablers’ and remove/ minimize ‘impeders’ for banking development for inclusive growth:

In addition to the existing Agencies eligible for engagement as Business Correspondent, profit-making organizations may also be permitted to function as Business Correspondents. PACS may be permitted to function as Business Correspondent for banks including RRBs and Coop Banks.