22nd November, 2012: Ernakulam has been declared as the first district in India to achieve 100% financial inclusion. Reserve Bank governor D Subbarao announced this at a function held at Eernakulam attended by Chief Minister Oommen Chandy (left) and Nandan Nilekani, chairman, UIDAI.
Ernakulam with a population of 32 lakh, has 37 lakh savings bank accounts over all banks.
The feat was achieved as a result of the Financial inclusion project launched by RBI in association with Union Bank of India. Meaningful financial inclusion project offers operative bank accounts with micro-credit, micro-insurance and remittances facilities to households.
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