Baripada , August 8 Baripada urban cooperative bank is going to introduce for the first time “Box Saving” system or ‘Gruha Laxmi Deposite’ scheme to empower women of the district, its president Krupasindhu Mohanta said.
Under this scheme the bank will provide a locked box to each housewife and members of the local self help group. One key will be with the bank and another will be given to them.
They have to put one rupee or more in the box every day. After a month they will deposit it at the bank and bank will deposit this amount in the name of their passbook.
The bank will provide 11 percent interest against the deposit value, he said. But the bank will pay the 11 per cent interest only if the woman who owns the box brings the box to the bank of her own, he said.
If the staffs of the bank or other will bring this box from door to door one percent interest will be reduced against the deposit amount, he said. After a year the woman can take loan from the bank against their deposit, he said.
However, if a woman who has the deposits needs urgent money for her personal or for her daughter marriage bank will immediate help her by providing her loan with less interest rate, he said. But the scheme is applicable to only members of self-help, he said.
He said the bank has already planned to start this operation within a month of this year.