Odisha became the first state in the country to carry financial inclusion and extend banking services to unbanked areas through Self Help Groups (SHGs).
The state government signed an agreement with State Bank of India in this regard. In the first phase, SHGs would be engaged as Banking Correspondents in around 1,000 remote Gram Panchayats having no banking facilities. The system would be of great help to people in rural areas under social security schemes.
Takeaways from above News-
- Odisha becomes the first state to bring banking to remote rural areas through SHG
- Self-Help Group (SHG) is a small voluntary association of poor people, preferably from the same socio-economic background
- Chief Minister of Odisha is Shri Naveen Patnaik
- Governor of Odisha is Shri S. C. Jamir
If you have any other takeaways, do share with us in the comment section
Source- The Indian Express