State Bank group opens financial literacy, counselling centre
The centre, headed by an experienced/retired officer, would offer free counselling in person or over telephone/email on aspects such as calculation of interest on deposits, advances or loans, nomination facility, customer rights and fair practice codes, preparation of debt restructuring plans and service charges.
State Bank of Hyderabad, State Bank of India and their sponsored regional rural banks in Andhra Pradesh had earlier established a joint society called 'Runa Viveka Aacharana' with its headquarters at head office, State Bank of Hyderabad here, to establish financial literacy and credit counselling centres (FLCCs).
According to the Reserve Bank of India's model scheme, lead banks will have to open FLCCs in district headquarters, mandals and towns in a phased manner.
With this opening of new centre, the State Bank group had completed the target of setting up FLCCs in 12 lead districts in which it was operating, the released added.