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Ganjam launches project to take banking to SHGs

 Published : The Times Of India



To take banking to the doorsteps of women self-help groups (WSHGs), the Ganjam district administration has launched project money purse for digital transformation of SHGs.

The aim of the project launched in association with a private bank and a Bhubaneswar-based company, is to provide doorstep financial transactions and minor banking services to the SHGs, its federations and individuals by the human banking specialists (HBS), also the members of the WSHG of Mission Shakti.

Initially, the project was launched in 10 panchayats in 10 blocks on a pilot basis. "We will extend it to more panchayats in the future," said Keerthi Vassan V, chief development officer, Zilla Parishad, Ganjam. He has distributed the modern m-POS machines to the HBS on Wednesday for digital transactions.

The HBS-selected members of the WSHGs have been trained in operating of the m-POS machine and financial transactions. Without going to the banks, one can deposit and withdraw money, check account balance through HSB.

The HSBs will get incentives by providing financial services at the doorsteps by the private bank. The project will also help the SHGs repay their loan in time through the HSBs without going to banks. At least one member of the each SHG were trained on the operation of the m-POS device to make all types of transactions.

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