State Bank of India (SBI) in collaboration with city based organisation AISECT, launched mobile banking services in Madhya Pradesh .

This is the first time such a service introduced in the country under Financial Inclusion scheme, a SBI press release said here today.

Two mobile vans, fitted with ATM and Kiosk banking mechanisms, have started operations in the districts of Hoshangabad and Tikamgarh to provide banking services to the rural population.

Additionally, AISECT and SBI have also launched a scheme to benefit the rural migrants who are hesitant to enter corporate banking set-ups for cash remittance purposes and instead rely on traditional, time consuming methods.

For such people, the first ever urban banking kiosk, dedicated completely to providing cash remittance, has been introduced in Bhopal.

SBI's Chief General Manager Bhagwant said the benefits of such schemes should reach out to maximum number of people.

Therefore, SBI-AISECT mobile kiosk banking vans will soon cover other districts of the state and Chhattisgarh as well while the remittance outlets will be started in most major towns of MP.

"We have been associated with SBI for Financial Inclusion for the past two years and during this period, rural banking kiosks have been launched at 165 places in MP and Chhattisgarh, which have done a business of around Rs five crore," Director General of AISECT, Santosh Choubey said.