Odisha Launches AMA Bank: CM Patnaik Unveils 2000 CSP Plus Outlets for Financial Inclusion

Bhubaneswar: In a significant move towards achieving financial inclusion and empowering rural communities, Chief Minister Naveen Patnaik inaugurated 2000 Common Service Point (CSP) Plus outlets under the “AMA Bank” initiative on Thursday. The aim is to provide banking services through CSP Plus banking outlets in all unbanked Gram Panchayats (GPs) across the state.

Financial inclusion is a key driver of social and economic progress, and the “AMA Bank” initiative reflects the government’s commitment to reaching the last mile and delivering public services in a transparent manner. The geographical penetration of banks in Odisha has been a challenge, with approximately 65% of Gram Panchayats lacking a physical bank branch.

To address this gap, the Odisha government has collaborated with six public sector banks, including SBI, PNB, UBI, UCO Bank, Bank of India, and Bank of Baroda, to launch the ambitious “Ama Bank” scheme. The initiative aims to provide banking services through CSP Plus outlets, covering every unbanked Gram Panchayat in the state by the end of the current financial year 2023-24.

As part of the scheme, the government is providing rent-free banking space for five years, along with electricity and internet connectivity. Additionally, the state government is covering one-time expenses for Fixed Cost & Recurring expenses for a period of three years, with a dedicated provision of Rs. 500 crore for this purpose.

In the initial phase, 750 CSP Plus outlets were opened, offering comprehensive banking services such as deposits, advances, remittances, loans, Aadhar-enabled payment systems, credit linkage to Self-Help Groups (SHGs), and coverage under social security schemes. This initiative eliminates the need for rural residents to travel long distances to access various government schemes, including KALIA, MAMTA, old-age pensions, or apply for small business loans.

The program witnessed the presence of Finance Minister Bikram Keshari Arukha, Chief Secretary P.K. Jena, DC-cum-ACS Anu Garg, Principal Secretary of Finance Vishal Kumar Dev, and other key officials. The launch marks a significant step towards inclusive and accessible banking services for the people of Odisha, fostering economic development and empowerment at the grassroots level.