KOCHI: The Federal Bank Limited has bagged the CNBC TV18 Financial Inclusion Award for its path-breaking contributions towards financial inclusion and empowerment financially backward persons. The award was presented to Minimol Liz Thomas, AGM-in-charge of Financial Inclusion at Federal Bank, by Union Minister of State for Industry and Commerce Nirmala Sitaraman, at a function held in New Delhi.
Federal Bank has been setting an example for other banks by providing financial education and literacy in backward areas, as well as by taking technology to the less privileged in the hard-to-reach areas and providing them bank accounts with bio-metric smart card and micro ATM.
More than one lakh children in about 600 schools have already benefited from the literacy programme launched by the bank.
Besides, the bank has adopted a number of tribal schools. Further, to ensure the reach of banking services within the proximity of households, the bank has rolled out Aadhaar-enabled branchless banking in the ‘Common Service Centres’ established by the Central Government.