Tuesday, June 6, 2023


The lead bank scheme launched way back in 1969, is an integrated mechanism to extend banking services to the doorsteps of poor persons of the society particularly in the rural areas. Realizing that there are millions unbanked people even in urban areas, Reserve Bank in a significant move wanted banks to bring all districts in metropolitan areas under the lead bank scheme fold immediately

In the process, RBI assigned the responsibility of Lead Bank for the districts of Mumbai City and Mumbai Suburb to Bank of India.  The office of Lead District Managers’ was inaugurated by Dr. Deepali Pant Joshi- Executive Director of Reserve Bank of India in august presence of Mrs. V R Iyer –Chairperson & Managing Director of  Bank of India on July 31st ,2013

The function was held at Zonal Office of Bank of India at Fort, Mumbai for inauguration of LDM’s office of Mumbai City and via Video Conferencing for the Mumbai Suburb district in presence of senior functionaries of RBI, NABARD, BOI and the District Collector

Speaking on the occasion, Dr Deepali Pant Joshi emphasized that the Lead bank scheme, launched way back in 1969 was meant for extending various services , especially  targeted for eradication  of rural poverty. She emphasized the necessity of financial inclusion of urban poor for smooth roll out of Governments most ambitious Direct benefit scheme. She advised Banks to open the Aadhaar-based bank accounts in camp mode with the help of local government authorities

On the occasion Chairperson & Managing Director reiterated that all efforts shall be made and bank shall endeavor to vigorously implement all the schemes  of the Govt for benefit of the urban poor including the financial inclusion scheme for smooth rollout of DBT