Chief Minister Naveen Patnaik on Tuesday introduced ‘AMA Bank’ service in the state’s gram panchayats where banks do not have branches.
There are no bank branches in 4373 of the state’s total 6798 Gram Panchayats.
The project would provide 15 bank-related services to people of 4373 villages that do not have bank facilities. Under this initiative, the government intends to give banking services to all unbanked panchayats by March 2024.
For the next five years, the state will give housing, electricity, internet, and other required services to banks in the aforementioned panchayats.
“Today the ‘AMA Bank’ scheme of the state government commenced for the gram panchayats of our state having no bank branches. In the first phase, 754 Customer Service Point (CSP) Plus outlets have been opened in different panchayats of 30 districts. The ‘Ama Bank’ outlets will be opened in all the unbanked panchayats of the state by the 2023-24 financial year,” the Chief Minister said.
He stated that all forms of banking services will be made available to residents of such places. He stated that senior individuals, pregnant mothers, and physically disabled people will receive banking services at their homes.
Patnaik claimed that the Ama Bank plan, which is part of the 5T effort, is the first of its kind in the country.
He stated that the initiative will cost the state government Rs 500 crore. This initiative will empower village residents and have a significant impact on the rural economy.
“No country or state can ever attend inclusive growth without achieving financial inclusion of its people,” Patnaik said.
He also congratulated the State Bank of India, Punjab National Bank, Union Bank of India, UCO Bank, Bank of India, and Bank of Baroda for their contributions to the historic and people-centered initiative.
The Chief Minister urged the banks to make the initiative a huge success and to work together for the banks’ overall development.