Department of Financial Services, in collaboration with RBI and Bank of Baroda organise financial inclusion saturation camp at Bade village.
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DIMAPUR — The Department of Financial Services (DFS), in collaboration with Reserve Bank of India (RBI) and Bank of Baroda (BoB), organised a financial inclusion saturation camp at Bade village, Chümoukedima district, on September 10.
The camp is part of a nationwide campaign to achieve maximum coverage of government sponsored financial schemes, promote financial and digital literacy, inform villagers about the importance of re- KYC, and preventing digital fraud, a DIPR report stated.
Addressing the event as special guest, Advisor of Industries & Commerce, Hekani Jakhalu, said that the time has changed with banks shifting from traditional banking to digital banking, enabling people to manage their finances anytime and anywhere with just a click.
The advisor highlighted that the Bank of Baroda had the highest CD ratio, exceeding 15%, which demonstrated its positive impact on the people.
However, Jakhalu noted that many households have accounts that remain inactive due to limited access to services and schemes. She requested the bank to establish a branch in Bade village, assuring that it would become one of the top-performing branches in the state.
She also informed the villagers that banks provide an access to basic banking services like zero-balance accounts, insurance, and pensions, and urged the villagers to make full use of the camp.
Also read: Financial inclusion campaign held in Viswema village
Executive Director, Bank of Baroda, Beena Vaheed, expressed gratitude to customers, SHG members, and the community for their enthusiasm and involvement in the bank's mission.
She emphasised that financial inclusion is a powerful tool for social transformation, providing access to essential services like savings, credit, insurance, and pensions. This, she noted, brings dignity, identity, and security, bridging the gap between aspirations and opportunities, and is crucial for inclusive growth and a resilient India.
Vaheed highlighted the impact of the Pradhan Mantri Jan Dhan Yojana (PMJDY) since its launch in 2015, bringing millions into the banking system. She emphasised the importance of completing re-KYC updates as per RBI guidelines to ensure continued access to benefits like overdraft facilities, DBT, insurance, and pensions.
Additionally, new PMJDY accounts are being opened, offering features like zero-balance accounts, RuPay debit cards, overdraft facilities, and insurance coverage.
She also informed on insurance and pension schemes under PMJJBY scheme, accidental insurance under PMSBY and guaranteed monthly pension under Atal Pension Yojana (APY).
Further, Vaheed emphasised that these government schemes are practical solutions that empower families to secure their future and manage unexpected challenges. She stated that the Bank of Baroda is committed to the national mission of financial inclusion, organising saturation camps and emphasising financial literacy, especially among women and marginalised groups.
In Nagaland, the bank is responsible for 42 gram panchayat camps out of 874 scheduled across banks, and has already conducted 23 camps. She also mentioned the bank's active support for SHGs.
On the occasion, short speeches were also delivered by SDO , Chümoukedima, Shreyansee Jain; AGM, RBI Kohima, K Samuel Liangousian; DGM, NABARD Nagaland RO, OP Mounglang; SLBC Nagaland; secretary of Bade Village Council Khosato H Keyho.