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Financial Inclusion

FINANCIAL INCLUSION

The objective of Financial Inclusion is “to extend financial services to the large hitherto un-served population of the country mainly rural & vulnerable section of society to unlock its growth potential.  In addition, it strives towards a more inclusive growth by making financing available to the poor in particular.”

Role of MBGB -

Madhya Bihar Gramin Bank is one of the most favored banks among the financial customers of Bihar. The core customers of this bank are the villagers situated within the eleven Dist. of Bihar. Many of villages were still unbanked and there was totally ignorance about the financial institutions and their products.

To provide banking facilities to vulnerable section of the society at their door steps at an affordable cost, MBGB has started Financial Inclusion work in March 2011.

Area of Coverage

Now bank has moved in SSA Concept for coverage of unbanked villages which are formulated by SLBC Bihar in terms of 1000-1500 Household in a Gram Panchyat.

  • Total SSA allocated to MBGB through SLBC, Bihar – 1286
  • SSA Covered through B&M Branches – 274
  • SSA covered by BC Agents – 1012

Name of BC Organizations

  1. M/S SANJIVNI VIKAS FOUNDATION, BIHAR
  2. M/S BIHAR BUSINESS DIRECTORY
  3. M/S PARSH PROGRESSIVE TRUST
  4. M/S SAHYOG BUSINESS SERVICES PVT. LTD. 

 

Technology Used at BC Points

Initially, under ICT, we have used HHT - Biometric Smart Card Model. Now we are providing banking facility through KIOSK Banking Solution. This solution has real time integration with our CBS (Main Server).

Achievements

      a) Coverage -

  • We have covered all the 932 villages having population more than 2000 and 4547 villages having population less than 2000 well before time of March 2016.

      b) Opening of account

  • We have opened more than 3.5 Lac accounts through BC Agents in which transaction are taking place.

      c) Remittance facility

  • We are providing MNREGA labourers, Health beneficiaries, Incentives for students and other Govt. sponsored incentives directly in the accounts through Remittance.

 

FINANCIAL LITRACY CENTERS

Establishment Of FLC – We have established 11 Financial Literacy centers all across of 11 districts of our Service Area

  • Till date 8099 Literacy Camps has been organized.
  • We are organising Literacy Camps through RBI Literacy Materials & NUKKAD NATAK also.
  • NABARD has supported with Rs. 5.00 Lac for each FLC for a Year.

PRADHAN MANTRI JAN DHAN YOJNA

  1. Survey of Household – Under PMJDY, we have surveyed the households for having a Bank Account in each Household.
  2. Total No. of Household – 1475837
  3. No. of Mega Camps Organized under PMJDY -  8099
  4. Accounts opened under PMJDY - 821756

All the Households are covered with Bank Account.