Credai Pune
NSDC
Bank Accounts for Construction workers.  Nov 26, 2012

Central Bank tied up with Kushal and took a Gaint Step in Banking and Construction sector by opening Bank Accounts for Construction workers.

CMD Central Bank- Mr.Tanksale Visited Kushal and inaugurated Bank Accounts for Construction workers without the KYC Norms.

Kushal CREDAI & Central Bank’s initiative

laborers to have Bank A/C, Pune - Due to stringent KYC norms it was impossible to open bank accounts for construction site labourers. Understanding this basic problem, Kushal in association with NSDC and Central Bank took the initiative of opening saving accounts and distributed pass books to Kushal trained construction site workers by the hands of M V Tanksale, Chairman Central Bank of India. Also present on site of Kohinoor-Rama group “AIR CASTLES”were Rohit Gera-Vice President CREDAI,  J P Shroff- Chairman- Kushal, Ranjit Naiknavre-Vice Chairman Kushal, Shrikant Paranjape, Anuj Bhandari, Krushna kumar Goel, Rupesh Banthia,Atul Chordia, Kapil Trimal,Vineet Goel, Shashank Paranjape, Moti Punjabi and B S Shekhawat, Zonal Manager-Central Bank.

Speaking on the occasion Mr. J.P Shroff said “that there is about 2 lakhs construction workers working with the 350 members of the credai Pune metro and the banks would have a great opportunity to open accounts and help in making financial inclusions of the construction workers”. Mr.Shrikant Paranjape said “that the first training of kushal started at the Blue Ridge site of their company and he is proud to see the growth of kushal”. Mr.Rohit Gera added that “The labours would now be able to also borrow money from the banks as education loans or vehicle loans and not pay premium interest”.

Tanksale said,”As a bank, it is important that certain facilities should be provided so that labourers need not come to bank during their working hours which otherwise would affect their daily wages. The bank accounts can be opened at the sites but as far as money deposit is concerned, the bank will provide an ATM machine and cash deposit machine in due course of time at various sites itself.

Tanksale further added that “The builders/contractors should stop giving salary in cash and adopt advance banking technique system to electronically transfer the money in the bank in the name of labourers and bank in turn can deposit money in respective labourers account. Then only the noble thought behind opening bank accounts will be fruitful. The bank will provide Pre paid card and debit card. Apart from depositing & withdrawing money the bank will also provide services to transfer the fund, from same or other banks through ATM, NEFT and IMTS i.e. through mobile, to their near & dear ones”.

“It is commonly seen that labourers get weekly wages on Saturday and by Monday their pockets get empty. Cash in hand many a times lead to alcoholism and other bad habits. There is no system of saving money. Our new initiative will surely help them save sizeable amount of money and help improve their living standards”, expressed Shroff.

Kushal under CREDAI Pune Metro is working towards making construction site workers skilled as per international standards. Till date Kushal has trained 5500 workers and have aimed to train 2.5 Lakh workers in coming years.Rohit Gera, Ranjit Naiknavre, Shrikant Paranjape also spoke on the occasion. Mr.Rupesh Banthia was the host and Mr.Atul Chordia proposed vote of thanks.

Speaking on the occasion Mr. J.P Shroff said “that there is about 2 lakhs construction workers working with the 350 members of the credai Pune metro and the banks would have a great opportunity to open accounts and help in making financial inclusions of the construction workers”. Mr.Shrikant Paranjape said “that the first training of kushal started at the Blue Ridge site of their company and he is proud to see the growth of kushal”. Mr.Rohit Gera added that “The labours would now be able to also borrow money from the banks as education loans or vehicle loans and not pay premium interest”.