UNDP report on Madhya Pradesh’s financial inclusion to be released in New Delhi
Bhopal: United Nations Development Programme (UNDP) has prepared a report on unique model of financial inclusion under implementation in Madhya Pradesh to extend banking facilities and benefits to maximum number of people. The report will be released in New Delhi on January 24.
Reserve Bank of India and international organisations like UNDP has been drawn towards model of financial inclusion implemented in the state through joint efforts of Madhya Pradesh Government and commercial banks. United Nations Development Programme has constituted a team for evaluation, study, achievement and way forward of Madhya Pradesh’s programme.
Team’s report will be released at a national workshop in multi-purpose hall of India International Centre, New Delhi on January 24. Luminaries associated with development and financial sectors will be present on the occasion.
Financial inclusion model of Madhya Pradesh
Madhya Pradesh has written a new chapter in rural areas’ progress by moving ahead on the path of financial inclusion. This new beginning of economic transformation has been made through Madhya Pradesh’s financial inclusion model. With this, Madhya Pradesh as become the first state in the country by launching direct benefit transfer system. Now, other states are also replicating it and entire country is lauding it.
Ensuring communication linkage with remote areas first of all 3-tier communication system was introduced in remote areas. These included communication facility, information technology and arrangement for fiscal institutions and resources. This has resulted in a new and rapid journey of development in all 23006 Gram Panchayats and 53 thousand villages in the state.
Now, Gram Panchayats are connecting with country, state and world through e-Panchayats. Priority is being given to contact sources for integrated development of rural areas. Work is under progress at a rapid pace on road contacts, banking facility and e-Connectivity. Work of e-Panchayat has been started in all Gram Panchayats in the state. For this, Rs. 230 crore has been allocated at the rate of Rs. 1 lakh each to every Gram Panchayat for purchasing computer, printer, monitor and LCD TV. Ultra small bank is being set up at every Panchayat building with internet connectivity. E-panchayat rooms are being constructed in all new buildings of Panchayats. At e-panchayat room, villagers will get facilities of ultra small bank, post office and citizens facilitation centre.
Easy access to banking facility at villages has been ensured with expansion of road and communication facilities to remote areas. An ultra small bank is being opened in 14 thousand 679 villages banking facilities does not exist from 20 to 90 kilometers. Due to ultra small banks amounts of pensions for BPL families, destitute senior citizens, destitutes, widows and disabled from the Union and State Governments are being deposited directly in their bank accounts. Similarly, rural persons have also been receiving various government assistance and subsidies, student scholarships and health assistances scheme easily through ultra small banks. They have also given facility to retain savings in their accounts in nearby ultra small banks. About 3000 ultra small banks are being set up in the state.
