Small finance banks lag in opening Jan Dhan Yojana accounts in Odisha

This is despite their strong branch network and plans to expand retail banking operations; PSB lead race, accounting for 70% of such accounts opened in the state

Small Finance Banks (SFBs) are yet to join in the growing call for opening accounts under Pradhan Mantri Jan Dhan Yojana (PMJDY) in Odisha.

This is despite the available branch network that key SFBs like Jana Small Finance Bank, Ujjivan Small Finance Bank, Suryodaya Small Finance Bank and Utkarsh Small Finance Bank have in the state, and their plans to expand their retail banking operations.

Data collated by the State Level Bankers Committee (SLBC) shows that public sector lenders have seized the lead by opening 11.9 million PMJDY bank accounts as on June 30, 2019, accounting for about 70 per cent of