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Odisha Govt Signed MoU with 6 Public Sector Banks to Provide Banking Services

Published on September 15, 2023
Current Context: The Odisha government signed a memorandum of understanding (MoU) with six public sector banks on Wednesday, September 13, 2023, to provide banking services in all unbanked gram panchayats (GPs) of the state through customer service point (CSP) Plus banking outlets.
Odisha Govt Signed MoU with 6 Public Sector Banks to Provide Banking Services
  • These banks were State Bank of India, Punjab National Bank, Union Bank of India, UCO Bank, Bank of India and Bank of Baroda.
  • The MoU was part of the state’s scheme for providing banking services to every GP through CSP Plus banking outlets, which will be implemented in a phased manner to cover unbanked GPs of the state within the current financial year 2023-24.
  • The state government will provide rent free banking space for five years and bear one-time expenses for fixed cost and recurring expenses for a period of three years34. A provision of Rs 500 crore has been made for the scheme.
  • The official statement claimed that Odisha is the first state in the entire country to adopt such a model for providing banking services to all GPs.
  • People staying in unbanked GPs will have easy access to all kinds of banking services free of cost. Senior citizens, differently abled people and pregnant women will get doorstep banking services and avail the direct benefit transfer (DBT) of the government in a timely manner.

Question:

Q.1 Which of the following bank was not part of the MoU signed by the Odisha government to provide banking services in unbanked GPs of Odisha?
a. State Bank of India
b. Punjab National Bank
c. HDFC Bank
d. UCO Bank
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