Odisha turns to banking outlets to cover untapped areas

So far, 818 banking outlets have come up, with SBI taking the lead and setting up as many as 478

Banking outlets are emerging as the new dependable model for financial inclusion in Odisha. The outlets are gaining currency as the state has a large chunk of its gram panchayats untouched by banking facilities.

The state government has turned to the banking outlet model in untapped areas that lack a brick & mortar branch or not serviced by a banking correspondent within a five-kilometer radius.

A 'Banking Outlet' for a domestic scheduled commercial bank (DSCB), a small finance bank (SFB) and a payment bank (PB) is a fixed point service delivery unit, manned by either bank staff or its business