All account holders to get credit cards

PUDUCHERRY: General credit cards will be issued to all account holders, including no- frills saving bank accounts, under financial inclusion who have been provided with smart cards, said TM Bhasin, chairman and managing director, Indian Bank and chairman state level bankers committee (SLBC), on Tuesday.Speaking to the media at a press conference here, he said the bank, at its meeting on November 19, had taken a policy decision to provide loans of up to `10,000 for all those issued general credit cards (GCC) to facilitate trade and business. Unlike farmers who had been issued with  Kissan credit cards and were using it to avail of credit, others could use the GCC for availing of loans including no-frills account, said the chairman. The interest rate would be 7 per cent for agriculture and a minimum of `10.75 for trade and commerce, he said.Mobile banking from next weekIndian Bank will be introducing mobile banking services in Puducherry by next week with two units, said TM Bhasin, chairman and managing director of the bank. Under financial inclusion 2,32,413 saving bank accounts, which are served by business correspondents, would also get the mobile banking services.