BGB recahes to rural poors

Baripada, Jun 16 (UNI)The Baitarani Gramya Bank (BGB) has excelled in reaching out to the rural poors in its ''service area'' in Keonjhar District while implementing a novel scheme called ''Financial Inclusion'' mooted by the Reserve Bank of India (RBI).

The main objective of the scheme was to provide access of banking to every household by opening at least one basic savings bank account in each household.

The BGB could open a total number of 1,52,339 ''No-frill'' accounts during 2007-08 thus ensuring nearly one hundred percent coverage to the target group identified under the financial inclusion, said BGB Chairman S.B.Beloskar here on Monday.

The ''No-frill'' account is designed for persons who can open saving bank accounts with ''nil'' balance to his credit,Mr Beloskar added.

The Chairman of the RRB said that this year Mayurbhanj district has been identified for the implementation of the Financial Inclusion scheme in Mayurbhanj district. The BGB plays the role of the regional rural bank for the two contiguous tribal dominated districts of Mayurbhanj and Keonjhar, Mr Beloskar pointed out.

In yet another area in which the rural bank played a significant role in rejuvenating the rural economy was the support that it gave to the women's Self Help Groups (SHGs) operating in its service area.

Altogether, 3485 women's SHGs were given credit linkages with the rural bank so that they could demonstrate their mettle in various income-generation activities. the Chairman further said.

The performances of the women's SHGs that flourished with the bank's assistance, brought the Bank a state level award on the International Women's Day this year, sources added.

UNI XC-BD KK RN1721