SHG Women To Strengthen Financial Inclusion In Rural Ganjam

Time To Transform Rural Banking: Ganjam To Appoint Women SHG Members As Banking Correspondents
Berhampur: In yet another initiative that will have a far reaching impact on financial inclusion and empowerment of women, the Ganjam District administration has initiated steps to appoint Mission Shakti Self Help Group members as Banking Correspondents. Initially 75 members will be appointed as BCs in the unbanked Gram Panchayats. While interviews have been conducted by the administration , they will be formally appointed by the Bank.

The women banking correspondents will be appointed in 12 gram panchayats of DIgapahandi block, 17 panchayats of Aska, 6 each in Chikiti and Dharakote, 11 each in Khallikote and Purusottampur, 9 in Rangeilunda, 1 in Seragada and 4 in Soroda Block. The district administration is planning to appoint as many as 473 Banking Correspondents under the One GP One BC Mission in various blocks of the district.

As the people belonging to some of the villages in these blocks are devoid of any formal banking services, the Banking Correspondents will reach out to them and provide banking services at their door step. Yes Bank has partnered with Mission Shakti for this unique initiative to provide financial services. While the selected women Self Help Group members will be trained by Yes Bank, they will start their job from March 8th. They will provide services such as withdrawn and deposit of money, Life insurance transactions, Electricity bill payment, telephone bill payments etc. They will also facilitate loan disbursement to the rural people. The Bank will provide all necessary means for the BCs.

Speaking to thenewsroom.co.in on the unique initiative, Project Director, DRDA, Shinde Dattatraya Bhausaheb has said that “As the focus of financial inclusion is on women development, we are trying to bring more and more women SHG members as BCs to increase the exposure of women to formal financial institutions for livelihoods activities.”