Odisha - First state to bring banking to remote rural areas through SHG
Posted on:29 Mar 2017 10:58:50
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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.
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.
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