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Do you know which bank initiated Pigmy scheme?

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Money Talk India Finance Forum (MTIFF) :: Savings & Investment Talk :: Savings by Type :: Pigmy/Daily Savings

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Do you know which bank initiated Pigmy scheme? Empty Do you know which bank initiated Pigmy scheme?

Post by Admin Wed Jan 30 2008, 15:39

Pigmy scheme was introduced by a leading nationalized bank under which traders were enouraged to save few rupees every day in their pigmy account. An agent (pigmy agent) designated by bank would go to homes and shops of individuals and collect their savings and submit it to bank on their behalf.

Can you name the bank which initiated this novel concept?
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Post by rakeshkamble Wed Jan 30 2008, 16:12

I think it must be Canara Bank...
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Post by enidhi Wed Jan 30 2008, 16:33

Let us see what others have to say...
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Post by Praks Tue Feb 26 2008, 14:48

I feel it was Syndicate bank.. well i have one pigmy account in Syndicate..
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Post by enidhi Tue Feb 26 2008, 20:38

Welcome to MoneyTalk Praks... Let me wait for one more week to see anyone else wish to try. then I will declare the answer.
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