BoBL, BCPL join hands to educate rural population on banking services

To include the un-banked and under-banked population into the banking system, Bank of Bhutan limited (BoBL), in partnership with Bhutan Post Corporation Limited (BPCL), started basic banking services, such as opening an account, cash withdrawal, and deposits, from BPCL-operated community centres. The initiative was officially opened at the Chapcha community centre in Chukha. The move will help educate rural population about banking services, inculcate the habit of saving and help them get more access to funds. With an ultimate plan to include all 205 community centres in the future, this service is also available in four other community centres across the country along with Chapcha and other areas. As it progresses, BOBL plans to start services on loans too and further roll out these services to all BPCL outlets and community centres, depending on the success of these five pilot centres. BOBL also plans to provide loan facilities, mostly agriculture-based, to rural people, as and when the need arises. There are 186 community centres throughout the country of which 132 are connected to the Internet. Through the community centres, BPCL’s goal is to provide all kinds of services. A memorandum of understanding on the partnership was signed between the two corporations, with BoBL training the community centre operators on basic banking in order to familiarize them on the processes.