In a significant move to enhance financial access in remote areas, the Bihar government has given the green light for establishing two new branches of the Bihar State Rural Bank (BSRB). The decision was finalized during a high-level meeting in Patna on Friday.
New Branches for Supaul and Madhubani Districts
Finance Minister Bijendra Prasad Yadav announced that the new branches will be set up at Parsarma in Supaul district and Laukaha in Madhubani district. The approval came following a formal proposal presented by BSRB Chairman Mukul Sahay during a New Year interaction meeting focused on strengthening rural banking services across the state.
The minister emphasized that these locations were chosen due to an urgent need for formal banking services. He stated that the initiative would play a crucial role in promoting financial inclusion, directly benefiting local farmers and small business owners by providing them with easier access to banking facilities.
Boosting Infrastructure and Administrative Capacity
During the same meeting, Chairman Mukul Sahay highlighted the need for a proper plot of land in Patna for the bank's headquarters. This step is seen as essential for augmenting the bank's capacity and streamlining its administrative functions.
Responding promptly, Finance Minister Yadav directed the concerned department to identify a suitable plot in the state capital and expedite the land transfer process. This move is expected to provide a solid foundation for the rural bank's future growth and operational efficiency.
A Step Towards Greater Financial Inclusion
The opening of these branches is not just about adding physical outlets. It represents a strategic effort to bridge the banking gap in Bihar's rural heartland. The minister pointed out that expanded services would significantly aid in bringing more individuals into the formal banking fold, thereby stimulating local economic activities.
The meeting was also attended by senior BSRB officials, including Senior Manager Anjay Kumar and Managers Mukesh Kumar and Nishesh Kumar, underscoring the importance placed on this expansion plan.
This development marks a continued push by the state government to ensure that the benefits of banking reach every corner of Bihar, supporting agriculture, commerce, and overall economic development in these underserved regions.
