Andhra Pradesh: Rythu Bharosa Kendras Turned Mini Banks Are Very Useful

Andhra Pradesh state government has launched Rythu Bharosa Kendras (RBKs) - digital kiosks for the farmers to know the market prices and to place their orders. Now, in an attempt to make the banking services easy to the rural people, especially farmers in the business correspondents, the state government started banking services at Rythu Bharosa Kendras (RBKs). 

Now, RBKs have turned into mini banks. According to the Reserve Bank of India regulations, banks can set up their branches in villages that have a population of 5000. Setting up new branches requires a lot of money so, banks have appointed business correspondents and through the services are being rendered.

Earlier, people used to go to banks to either withdraw or deposit money but now people are withdrawing and depositing money through business correspondents in the Rythu Bharosa Kendra. For the last nine months, banking services are available at RBKs. The Rythu Bharosa Kendras can provide cash transactions up to Rs. 20,000 and a bank account can also be opened. Online banking services are provided by arranging swiping machines and tablet PCs.

Most of the people are saying that the Rythu Bharosa Kendras turned mini banks are very useful.