SBI to offer overdraft facility to 7,00,000 small account holders
This apart, SBI is also planning to come out with small value insurance, investments and flexible deposit schemes State Bank of India (SBI) will offer overdraft facility to nearly 7,00,000 account holders enrolled under the Pradhan Mantri Jan Dhan Yojana (PMJDY). The bank has opened nearly 100 million accounts under PMJDY so far. "We are looking at the transactions of the accounts under PMJDY, and gauging the number of accounts which can be provided overdraft facility. We have found, so far, some 7,00,000 accounts can be provided overdraft facility," said Arundhati Bhattacharya, chairperson, State Bank of India, at the Federation of Indian Chambers of Commerce and Industry (Ficci) Banking Conclave here today. This apart, SBI is also planning to come out with small value insurance, investments and flexible deposit schemes. "It is on account of inability of people to access banks, that several small deposit schemes flourished in places like West Bengal....