RBI selects Dharwad district for 100% digitization of Bank transactions

Reserve Bank of India (RBI) has selected the Dharwad district for 100% digitization of all the Bank transactions in the Dharwad district. All banks need to adhere to the guidelines.

The 100% Digitization of Bank transactions has been proposed as a pilot project in the Dharwad district. Reserve Bank of India has fixed September 30, 2023, as the deadline.

Reserve Bank of India officer Malay Biswas held a meeting with DC, Dharwad at Dharwad yesterday to review the performance of various banks of the Dharwad district.

Speaking at the meeting, Malay Biswas said that “All the banks should adhere to the guidelines set by the Reserve Bank of India, and ensure that all the transactions are digitized before the deadline”.

Dharwad DC Gurudatt Hegde presided over the District Advisory and Progress Committee and District level Bankers review committee meeting held in the new hall of the DC office yesterday (May 30).

DC Gurudatt Hegde said that the bank officials should respond to the various welfare schemes implemented by the Central and State governments.

At the end of the fourth quarter, the banks in the Dharwad district have disbursed a loan of ₹15,258.75 crores achieving a target of 98% as set by the government.

₹15,258.75 Crores includes a sum of ₹1819.39 Crores for Crop, ₹1844.76 Crores for Agricultural Term Loan, ₹3664.15 Crores Agricultural Loan, ₹4161 Crores Micro Small Medium Enterprises Loan, ₹8452 Crores on Various Priority Sector Loan.

The bank officials were instructed to dispose of the loan applications pertaining to various departments and development corporations pending in various banks on a priority basis.

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