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HO: DEV:CIR: NO: 15/2006                                                                         DATE: 20.03.2006

                                                                                                                              

TO ALL OFFICES

 

NO-FRILLS SAVING FUND ACCOUNT

(PGB ‘MITRA’ SAVING FUND ACCOUNT)

 

Please refer to Head Office Circular No. HO:DEV:12/2006 DATED 13.03.2006, vide which detailed guidelines were circulated to branches for offering a new product (PGB MITRA SAVING ACCOUNT- a No Frills Account) with a view to achieving the objective of greater financial inclusion to make available a basic banking ‘no frills’ account with very low minimum balance as well charges that would make such accounts accessible to vast section of population. By now, branches must have received this circular and have started garnering prime deposits under this scheme. 

As this scheme is being monitored at various levels, branches are advised to report the progress made under this scheme to Head Office on monthly basis, on the following lines: 

Accounts Opened

(up to last month)

Accounts Opened

(this month)

Total Accounts opened

(Cumulative)

 

 

 

Branches are also advised to take every possible step to make this scheme more popularize, through display boards, banners, leaf lets etc. to be printed in trilingual form i.e. English, Hindi and Punjabi.

  

GENERAL MANAGER