6 Public Sector Banks to Offer Services in Unbanked GPs of Odisha

Bhubaneswar: A Memorandum of Understanding (MoU) was signed between the Odisha Government and six public sector banks for the provision of banking services in all unbanked panchayats of the state through Customer Service Point (CSP) outlets.

These banks are the State Bank of India, Punjab National Bank, Union Bank of India, UCO Bank, Bank of India and Bank of Baroda.

In August this year, the Odisha Cabinet decided to provide banking services in as many as 4373 unbanked panchayats of the state. A budgetary provision of around Rs. 500 crore was earmarked for the purpose.

The Government of Odisha has come forward with an ambitious target of providing banking services to every GP through CSP Plus banking outlets, the government had said in a press release.

The scheme will be implemented in a phased manner to cover all 4373 unbanked GPs in the State for providing banking services through CSP Plus banking outlets within the current financial year 2023-24.

The Government of Odisha will provide rent-free banking space for 5 years. In addition to this, the Government of Odisha will also bear one-time expenses for Fixed Cost & Recurring expenses for a period of three years, the release said.

The scheme will enhance the coverage of financial inclusion in the State in a big way. People residing in all Unbanked Gram Panchayats of the State will have easy access to all kinds of banking services free of cost. Senior citizens, differently-abled people and pregnant women will get doorstep banking services and avail of the Direct Benefit Transfer of the Government in a timely manner, the release stated.