| Financial Inclusion Efforts |
| The Karnataka Bank has taken the following action towards Financial Inclusion: |
| Sl.No. |
Particulars |
| 1 |
Name of "no-frills" account |
SB-SUGAMA |
| 2 |
Initial deposits & minimum balance |
Rural |
Semi Urban |
Urban |
Metropolitan |
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In exceptional cases bank has also permitted to open account with ZERO BALANCE |
| 3 |
Rate of interest |
As applicable to regular Savings Bank Account |
| 4 |
Facilities provided |
- Maximum of 6 (six) withdrawals per month through withdrawal slip
- Collection of outstation cheques
- Pass Book
- Nomination
- One cheque book (10 leaves) per annum
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| 5 |
Services Charges |
- Rs.10 /- per withdrawal if withdrawals exceed stipulated 6 withdrawals per month.
- all other charges as applicable to regular Savings Bank Account
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| Further, branches have conducted survey through NGOs, SHGs etc. to identify the households at allotted wards/villages at various districts and have opened "no-frills" accounts with Zero balance. |
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As on September 30, 2007 the Bank as 31357 SB-SUGAMA"no-frills" accounts. |
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