Bhubaneswar, Sep 14 (FN Representative) Odisha government on Wednesday signed a MoU with six Public Sector Banks, for providing banking services in all unbanked Gram Panchayats of the state through CSP Plus banking outlets. The Finance department signed the MoU with State Bank of India, Punjab National Bank, Union Bank of India, UCO Bank, Bank of India and Bank of Baroda for providing banking services in all unbanked Gram Panchayats of the State. Out of 6798 GPs, around 65 percent of GPs (4373 GPs) do not have brick and mortar branches.
A brick and mortar branch is needed in every GP for easy access to banking services and strengthening the Direct Benefit Transfer system in the State, Official sources said. Odisha is the first State in the entire country to adopt such an exemplary model for providing banking services to all GPs. 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 the Direct Benefit Transfer of the Government in a timely manner. The scheme will be implemented in a phased manner to cover all unbanked GPs of the State within the current financial year 2023-24. The Odisha Government will provide rent free banking space for 5 years and bear one-time expenses for Fixed Cost & Recurring expenses for a period of three years. A provision of Rs. 500 crore has been made for the scheme, official sources said.