French multinational banking and financial services company, Societe Generale, has chosen Sanand, the auto-hub of Gujarat, to launch its financial inclusion programme in India.
The bank that began its operations at Sanand a year ago, will offer financial services to the underprivileged section of the society by offering them affordable financial products and services.
"We have identified two villages in Sanand. We have started off with Garodia village which has a population of 1600 people. We are offering them basic savings bank deposit accounts free of charge, which will enable them to make cash deposits, withdrawals and fund transfers," Marc-Emmanuel Vives, chief executive and Group Chief Country Officer of the bank, said on Friday.
"We also plan to cover Manipur village in Sanand and then later extend this programme to villages located on the outskirts of Mumbai," Vives told mediapersons on Friday.
The bank has so far received 120 account opening forms. It has tied up with a technical partner Sub-K Basix Sub-K iTransactions Limited for using mobile-based technology to conduct banking transactions. This firm will also screen, identify, train and equip business correspondents and sub-agents to guide the target audience in opening accounts, conduct basic banking transactions.