PSU bank to open more than 300 branches in rural area by December 2022

In order to make banking and financial services accessible to people living in villages and remote areas, the government has decided to open 300 bank branches by December 2022. The maximum number of bank branches will be opened in Rajasthan.

PSU bank to open more than 300 branches in rural area by December 2022
PSU bank to open more than 300 branches in rural area by December 2022, image source: Twitter

Under the financial inclusion campaign, government banks will open about 300 new branches in various states by December 2022, so that people living in remote areas of the country can also get the benefit of banking services. These branches will be opened in villages with a population of more than 3,000, which do not have a single bank yet. 

Maximum 95 branches will be opened in Rajasthan. 54 branches will be opened in Madhya Pradesh. Whereas 38 branches will open in Gujarat, 33 in Maharashtra, 32 in Jharkhand and 31 in Uttar Pradesh. Let us inform that in the meeting of heads of public sector banks with the Financial Services Secretary last month, the progress regarding opening of branches in rural areas was reviewed.

Bank of Baroda is going to open maximum number of branches

 News agency PTI has reported in a report that banks have been asked by the respective State Level Bankers Committee (SLBC) to open branches at the allotted locations by December 2022. Under this scheme, Bank of Baroda will open maximum 76 branches, while State Bank of India will open 60 new branches. 

It will be easier to get all banking services

Financial inclusion is a national priority of the government, as it is an important question related to the development of the general public. Financial inclusion means that everyone can get the services of banks and financial institutions at an affordable price. It provides an opportunity to the poor to invest their savings in the financial and banking system of the country. Apart from sending money to their families living in the villages, it is also a way to get them out of the clutches of moneylenders. 

Jan Dhan Yojana changing lives of the people in rural areas 

Government is committed to make banking services accessible to the marginalized and socio-economically marginalized sections through its various schemes including the Pradhan Mantri Jan Dhan Yojana (PMJDY). Since 28 August 2014, banks have opened more than 46 crore bank accounts under PMJDY. There are deposits of Rs 1.74 lakh crore in these accounts.