Odisha - First state to bring banking to remote rural areas through SHG

Posted on:29 Mar 2017 10:58:50
Odisha - First state to bring banking to remote rural areas through SHG
29 March 2017 Current Affairs: Odisha became the first Indian state to extend banking facilities to masses in unbanked areas through Self Help Groups (SHGs).

To implement this initiative, Odisha State Government has signed an agreement with State Bank of India (SBI). Odisha Govt.'s Odisha Livelihoods Mission (OLM) is the main party (corporate agent) in this agreement with SBI.

Expected Benefits:-

1) Over 70 per cent of Gram Panchayats in Odisha which do not have bank branches will be directly benefited from this initiative.

2) People in unbanked areas would get access to basic banking services.

OdishaCapital: Bhubaneswar

Governor: Dr. S C Jamir

Chief Minister: Mr. Naveen Patnaik (since 2000)

Ruling Party: Biju Janata Dal

Population: 43.73 million

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