Bank Sakhi / BC Sakhi plays vital role in financial inclusion

  • IASbaba
  • April 15, 2020
  • 0
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Bank Sakhi / BC Sakhi plays vital role in financial inclusion

Part of: GS Prelims and GS-II – Governance

In News:

  • Self Help Group women working as BC Sakhis and Bank Sakhis are playing a vital role in disbursement of Rs.500/- to women having PMJDY accounts (Pradhan Mantri Jan Dhan Yojana) amidst COVID-19 Lockdown.

Important value additions:

  • BC Sakhis are Self-Help Groups (SHGs) women working as Business Correspondents for banks.
  • A Bank Sakhi is someone who has been an SHG member involved in conducting banking and book-keeping activities of the group.
  • As a Bank Sakhi, she provides a range of financial services on behalf of the bank to her community. 
  • She is supported by the local SHG federation which provides capacity development, training, and financial awareness in the community.
  • She is paid a commission by the bank for different services, which covers her costs and provides her with an income.

Pradhan Mantri Jan Dhan Yojana

  • It is a financial inclusion program of Government of India. 
  • It is open to all Indian citizens.
  • It aims to expand and make affordable access to financial services such as bank accounts, remittances, credit, insurance and pensions. 

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