CM launches 750 CSP Plus banking outlets in rural areas
Bhubaneswar: With an aim to provide banking services in all unbanked Gram Panchayats (GPs) of the state, Odisha Chief Minister Naveen Patnaik today launched the ‘Ama Bank’ scheme.
Financial inclusion is fundamental to social and economic progress and empowerment of people. No country or state can achieve inclusive growth without achieving financial inclusion for its people. Reaching out to the people at the grassroots level and delivery of public services to the last mile in a fair and transparent manner has been one of the top priority agendas of the Government.
However, financial inclusion remains a challenge as the geographical reach of banks in the state has been disappointing. Nearly 65% of our Gram Panchayats do not have any concrete bank branch, leading to serious challenges and difficulties in accessing banking services and direct benefit transfer availability for most of our people in rural Odisha. At the rate at which brick and mortar branches have been established in the state in the last 5 years, it will take us more than 30 years to provide a brick and mortar branch in every unbanked gram panchayat.
Therefore, Government of Odisha in collaboration with 6 public sector banks namely SBI, PNB, UBI, UCO Bank, Bank of India and Bank of Baroda has come up with an ambitious and people centric scheme called “Ama Bank” to provide banking services through CSP. Has brought. Also a banking outlet for every unbanked GP. Ama Bank is a low cost brick and mortar micro bank branch located between a BC and a small bank branch and provides all the essential banking services like deposits, advances, remittances, loans, Aadhaar enabled payment system, credit linkage to SHGs, coverage Will do. Social security schemes etc.
Additionally, senior citizens, disabled people and pregnant women will get door step banking services and benefit from direct benefit transfers in a timely and hassle-free manner. Poor rural people of Odisha will not have to travel long distances to avail benefits under our many schemes, especially Old Age Pension (OAP), KALIA and MAMA etc. or to apply for small business loans. This will be truly inclusive and empowering for the people of the state.
This scheme will be implemented in a phased manner in the current financial year 2023-24 to cover all 4373 unbanked gram panchayats of the state. Odisha Government is providing rent free banking space for 5 years. The State Government will also bear one-time expenditure towards fixed costs and recurring expenditure for a period of three years. Provision of Rs. Rs 500 crore has been made for this scheme.
Today, in the first phase, 750 CSP Plus outlets covering all 30 districts were dedicated to the people of Odisha. Odisha is the first state in the entire country to conceptualize and implement such a comprehensive scheme for financial inclusion. Hon’ble Chief Minister said that the CSP Plus model renewed by Odisha will become a model for the rest of the country.
