Public sector lender, Indian Overseas Bank has set up 10,100 no frills savings accounts in Madurai and Virudhnagar districts of Tamil Nadu.

Speaking on the endeavor, Chief Regional Manager, Mr K.V.Krishnan said that it was a part of the national "Walk-in-campaign"of the bank in a move to increase the count of no frills savings accounts of the bank.

In the campaign, bank officials and business correspondents (BCs) covered as many as 48 villages - 27 in Madurai and 21 in Virudhunagar, wherein they gave assistance and guidance to people regarding the various savings and insurance schemes and also collected applications under RBI's financial inclusion drive.

He added that the bank has already started delivering smart cards through BCs to rural areas since August end and that the process has been completed. Now account holders can carry out five transactions every day with Rs 2000 being the maximum withdrawable amount per day.

Also temporary overdraft facility is offered as per compliance to KYC norms, added Krishnan.