Ama Bank Odisha Apply Online:Chief Minister Naveen Patnaik on introduced ‘AMA Bank’ service in the state’s gram panchayats where banks do not have branches.There are no bank branches in 4373 of the state’s total 6798 Gram Panchayats.The project would provide 15 bank-related services to people of 4373 villages that do not have bank facilities. Under this initiative, the government intends to give banking services to all unbanked panchayats by March 2024.
For the next five years, the state will give housing, electricity, internet, and other required services to banks in the aforementioned panchayats.Chief Minister Naveen Patnaik launched the “AMA Bank” scheme, a historic initiative aimed at providing banking services through CSP Plus banking outlets in all unbanked Gram Panchayats (GPs) of Odisha. This visionary project, unveiled in the first phase, marks Odisha as the pioneer state in India to conceptualize and implement such a comprehensive scheme for financial inclusion.
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“Today the ‘AMA Bank’ scheme of the state government commenced for the gram panchayats of our state having no bank branches. In the first phase, 754 Customer Service Point (CSP) Plus outlets have been opened in different panchayats of 30 districts. The ‘Ama Bank’ outlets will be opened in all the unbanked panchayats of the state by the 2023-24 financial year,” the Chief Minister said.
The AMA Bank project was introduced by Chief Minister Naveen Patnaik on 28 November 2023. It is a historic effort that aims to provide banking services to all unbanked Gram Panchayats (GPs) in Odisha via CSP Plus banking branches via AMA Bank Odisha.This ambitious initiative, which was launched in its initial phase, establishes Odisha as the first state in India to design and carry out a full financial inclusion program. The Ama Bank project is in line with the government’s objective to make financial services more accessible.
CSP Plus Outlets: A New Model for Financial Inclusion
- In the initial phase, 750 CSP Plus outlets, strategically spread across all 30 districts, were dedicated to the people of Odisha.
- Chief Minister Naveen Patnaik expressed confidence that the innovative CSP Plus model would serve as a blueprint for the entire nation.
- This model aims to bridge the gap in financial services accessibility, particularly in rural areas where the geographical penetration of traditional banks has been a longstanding challenge.
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The Imperative of Financial Inclusion
- Financial inclusion stands as the bedrock for social and economic progress, ensuring the empowerment of people at all levels.
- The government recognizes that achieving inclusive growth is intrinsically tied to providing financial inclusion to every citizen.
- The challenges posed by a lack of brick-and-mortar bank branches in approximately 65% of gram panchayats necessitated a revolutionary approach to ensure the last-mile delivery of public services.
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- With a vast number of gram panchayats lacking a physical bank presence, accessing banking services and receiving Direct Benefit Transfers posed severe challenges for rural Odisha.
- Recognizing the urgency, the Odisha government collaborated with six public sector banks — SBI, PNB, UBI, UCO Bank, Bank of India, and Bank of Baroda — to launch the “Ama Bank” scheme.
- This initiative aims to establish low-cost brick-and-mortar micro bank branches that offer a comprehensive range of banking services.
Ama Bank’s Services and Impact
- Ama Bank, situated between a Business Correspondent (BC) and a small bank branch, is designed to provide essential banking services such as deposits, advances, remittances, loans, Aadhar Enabled Payment System, credit linkage to Self-Help Groups (SHGs), and coverage under social security schemes.
- Doorstep banking services for senior citizens, differently-abled individuals, and pregnant women will be a hallmark of this inclusive scheme, ensuring hassle-free access to Direct Benefit Transfers.
CSP Plus Outlets: A New Model for Financial Inclusion
- In the initial phase, 750 CSP Plus outlets, strategically spread across all 30 districts, were dedicated to the people of Odisha.
- Chief Minister Naveen Patnaik expressed confidence that the innovative CSP Plus model would serve as a blueprint for the entire nation.
- This model aims to bridge the gap in financial services accessibility, particularly in rural areas where the geographical penetration of traditional banks has been a longstanding challenge.
Documents required for Odisha AMA Bank Scheme
- Aadhar card
- Permanent residence certificate
- Income certificate
- Bank account statement
- Passport size photo
- Mobile number
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