Odisha to open CSP Plus banking outlets in 4,373 unbanked gram panchayats

Bhubaneswar: Odisha Cabinet, chaired by Chief Minister Naveen Patnaik, on Friday gave approval to open CSP (customer service point) Plus banking outlets in 4,373 unbanked gram panchayats (GPs) at a cost of Rs 500 crore.

Finance Minister Bikram Keshari Arukha said the CSP Plus banking outlets will be opened in coordination with six public sector banks (PSBs). The six PSBs — State Bank of India (SBI), Punjab National Bank (PNB), UCO Bank, Union Bank of India, Bank of Baroda and Bank of India — will help in opening the facilities in 4,373 unbanked GPs.

The Cabinet cleared 19 proposals.

Financial inclusion is a high priority agenda of the State government, Arukha said, adding that banking penetration in the State is quite low as out of the 6,798 gram panchayats, around 65 per cent (4,373 GPs) do not have brick and mortar branches.