Reserve Bank of India has set a projection of fove years by which mobile banks would be penetrating to every village of India, said K C Chakraborty, Deputy Governor of RBI.

Chakraborty firmly said that in five years time every villager would be financially included.

Mobile bank is a movable vehicle which reaches a particular region at a specified time. Every mobile bank is authorized by some bank and is operated by bank officials.

The vehicle provides basic banking facilities like deposit and withdrawal to villagers. It is also a means to educate villagers about the benefits of banking and also to free them from the clutches of greedy money lenders.

The financial inclusion plan of the RBI and Government of India says that banking facilities should reach every village of the country having a population of 2000 and above, said Chakraborty.

The Finance Minister, Pranab Mukherjee had proposed about banking facilities penetrating all over the country by 2012 in Budget speech this year.