Reserve Bank of India has urged that banks make full and effective utilization of new generation technology to reach out to every corner of the country as part of financial inclusion initiative. The idea was presented by RBI regional director Suma Varma.

She said so while launching the financial inclusion smart card for South Indian Bank (SIB). Varma added that it has been a big challenge for the apex bank to make banking amenities reach the most remote parts of India.

"India has some six lakh villages.The number of bank branches is far below the number of villages. This wide gap coud be filled by using technologies such as Financial Inclusion card", she said.

In order to have a strong banking network, it is necessary for the system to always maintain its level in the minds of customers. "It is the customers who play the most important role in evolving the banking policies. All the initiatives are worked out to meet their needs", Varma said.

SIB's M D and CEO, Dr V A Joseph, said that the smart card was in accordance to specifications of Indian Bankers' Association and had capability to be incorporated by UIDAI in its Aadhaar initiative.

The bank would be covering 100 villages with population of above 2,000 under the project. The card features included, customer enrollment through heand-held terminals and felexibility to deposit money without insisting on biometric authentication.