Date:12/07/2007 URL: http://www.thehindu.com/2007/07/12/stories/2007071252260500.htm

Andhra Pradesh

Tiny banking a reality

J.B.S.Umanadh

Photo: Mohd Arif

Hi tech: Boddu Lakhsmi handling the customer service point of Tiny banking.

Togarpalli (Medak): When the State Bank of India chose Medak for its pilot project on Tiny banking, Boddu Lakshmi was just a member of Sirimalle DWCRA group in Togarpalli of Kondapur Mandal. During the past six months her Tiny branch has more than 140 customers and another five hundred are in waiting list. She has deposits to the tune of Rs 50,000.

Each operator trained by the Mumbai based Zero Micro Finance and Savings Support Foundation has been given a mobile phone that recognises the customer passbook that looks like any ATM card, biometric finger print recogniser and a small printer. Project manager of Zero-Mass Vaidyanath Yerraguntla said that the aim of the bank is to open Tiny banks in all the 46 mandals of the district within this financial year.