Lamka/Imphal, February 23, 2010: As a part of the platinum Jubilee celebration of Pearsonmun village in Chura chandpur district today, the Reserve Bank of India organised a financial out-reach camp at the village along with the State bank of India, with the RBI Executive Director VK Sharma gracing the occasion and launching ATM facilities at the same village and other nearby places.

The Pearsonmun facility is said to be the sixth of its kind in the North East region.

It is further informed that a Financial Outreach Camp is organised basically to make people of the area aware about the financial inclusion, including various facilities available at banks for general public.

Moreover, VK Sharma during his participation at the celebration also commissioned a couple of ATMs on its sideline.

The RBI Executive Director, who was here to attend the outreach camp at the village adopted as a model village by the RBI inaugurated the UBI's first ATM at Pearsonmun and similar other facility run by the SBI at the Subsidiary Training Centre of the BSF located adjoining to the adopted village.

Inauguration of a third ATM of the SBI that was supposed to be included in the RBI official's itinerary failed to deliver the goods as it developed technical complications owing to delayed arrival and installation of the machine.

Speaking at the occasion, VK Sharma said the RBI's financial inclusion/outreach is no charity, but a very sound and compelling imperative of the bank.

It was the rural community with their rock solid demand for goods that have made the Indian economy sustainable even at the peak of the recent economic downturn, and it was the same community that sustains higher rate of interest from micro-finance agencies.

"The RBI has no qualms in penetrating to the rural masses, also the pillars of the economy, with its lower rate of lending as it will be beneficial to both the parties, therefore the financial outreach is no charity," he said amidst a thunderous applause.

Meanwhile, an SBI release said the ATM installed at BSF Campus, Churachandpur will cater to the banking needs of 3000 BSF personnel and members of the public.

One more ATM will be installed at SBI, Ccpur branch shortly, the release mentioned while highlighting that apart from being the largest bank in the country, SBI has 20 branches in seven districts of Manipur, with latest banking technology.

Conveying that all the branches are linked by Core Banking Solution, it maintained that in addition of the existing 22 ATMs in different parts of the State plans are afoot for more installations at convenient places of the customers.

Power Minister T Phungzathang, IPR Minister TN Haokip, Singngat MLA T Hangkhanpao, Henglep MLA T Manga Vaiphei, Principal Secretary (Finance) AN Jha, Regional Directors of the RBI, SBI and the UBI, local administrative and security officials were also among the dignitaries in attendance today.

The RBI's financial outreach camp, according to the Executive Director was a collective decision of its top executives intended to reach-out to remote areas of the country.

Besides financial benefits and extension of banking services to the adopted villages, it was meant to showcase to all stake holders in the state and central government so that it can serve as a model for the remaining villages in the country, he said.

"This is not going to be a formal event where tall claims were made.

Our commitment will be durable and lasting, and we will attend to you until the village is sustainable," the Executive Director said.

Demonstration and exhibition of various services on offer by motley of banks, and issuing of currency changes including coins were the attraction for the public participants.

The SBI also offered on-the-spot SBI-Tiny account counters while the UBI has symbolically handed over 10 Kishan Credit Cards and Pass Book each to the villagers.

Chief Guest of the day, Phungzathang Tonsing assured the village construction of a new community hall and a cemetery bridge.

He also promptly ordered a replacement of the transformer in the village that reportedly broke-down last night.

The programme was also attended by Executive Director of RBI VK Sharma; Chief General Manager of State Bank of India, North Eastern Circle, Local Head Office, Guwahati AK Deb; president of SBI Ladies Club, North Eastern Circle Lopa Deb, Senior Bank functionaries and public leaders of the area.

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