Govt to take banking to rural homes through co-operatives
Jaipur, June 4 -- The state government has launched an initiative to expand access to financial services in rural areas through cooperative societies, with a target of converting all 12,000 active primary dairy cooperative societies into Bank Mitras and equipping them with micro-ATMs by March 2027, officials said on Wednesday.
Under the Sahkar Se Samriddhi campaign, fintech-enabled doorstep banking services will be expanded through Primary Agricultural Credit Societies (PACS) and Primary Dairy Cooperative Societies, they added.
Principal secretary in the cooperation department Dr Samit Sharma, who also serves as registrar of cooperative societies on Wednesday directed officials to appoint all active primary dairy cooperative societies as Bank Mitras and equip them with micro-ATMs.
As an interim milestone, 5,000 cooperative societies are to be converted into Bank Mitras and equipped with micro-ATMs by September 30, saod Sharma.
The micro-ATMs, being distributed with financial assistance from NABARD, will allow villagers to check account balances, carry out financial transactions, disburse and repay loans, and access other banking services. So far, around 2,700 PACS and 557 primary dairy cooperative societies functioning as Bank Mitras have already been equipped, said officials.
The state is also developing a system on the cooperative banks' FIG portal that will enable managers of PACS and dairy cooperatives to visit villagers at their homes or workplaces to open bank accounts and collect deposits.
Officials said this doorstep banking model will make financial services more accessible, particularly in remote rural areas, while also helping cooperative banks increase deposits and strengthen their lending capacity....
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