Union Minister of State for Finance, S S Palanimanickam, today expressed the hope that introduction of smart card system would help people in remote places in the district to save money.

He was speaking at a function here in which the IOB bio-metric 'Smart Cards' for people living in villages was launched and housing loans to the tune of rs 25 lakh to 125 beneficiaries were disbursed.

He said in India only 38 to 40 per cent population had accounts with the banks and nearly 95 per cent in Kerala State had their accounts with banks. It was due to the people of the state who had settled down abroad and been sending money to their families in Kerala, the minister said.

The IOB had given smart cards to people living in 62 villages in the district. The bank had implemented the card system in 58 villages and in short time it would introduce it in the remaining four villages,he said.

Earlier the minister distributed the smart cards to 62 villagers and also distributed the cheques for the 'Kalaignar Housing Scheme.'