Mangalore, Mar,19. Corporation Bank and the Commonwealth Secretariat, London have entered a tie-up to help young people and women of rural India access credit for enterprise development activities. A press release quoting Mr Ramnath Pradeep, CMD, Corporation Bank said that a Youth Entrepreneurship Programme would be delivered and piloted in partnership with the Secretariat.
Corporation Bank offers its branchless banking facility through business correspondents to those who lack proper access to finance in rural India as also for those who have to travel long distances to bank branches. The aim of the project is to take technology to the doorstep of villages and bring prosperity to rural India so as to bridge the rural-urban divide.
Mr Steve Cutts, Commonwealth Assistant Secretary-General said that financial inclusion is critical for achieving inclusive growth. It addresses three major issues such as access to financial services, affordability of such services, and the actual utilization of these services.
As stated in the release, the modalities of the programme will be worked out between the two organizations and the programme will be formally launched soon.
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