Public sector lender, Indian Overseas Bank wants people to open more savings bank accounts as a part of its financial inclusion drive. Through this the bank aims at educating people about the benefits of banking.

RBI has directed all banks to make efforts to spread banking facilities to all areas of the country having population of 2000 and above by March 2011.

The measures suggested for the same by the central bank were opening new branches, extension counters, collection centres, or appointing business correspondents or business facilitators to achieve the objectives.

The bank would open no frills accounts for customers. Also, Assistant General Manager of IOB, D.P. Balasubramanian, launched smart card banking facility at Arittapatti, Madurai recently.

The bank would provide smart card facility to 27 villages in Madurai district 21 villages in Virudhunagar district by December-end.