Yogi Adityanath Government's Banking Correspondents Scheme Empowers Women in the State

By: WE Staff | Thursday, 14 April 2022

When Anchal was desperate for work after completing her Master's degree, the Yogi Adityanath government's Banking Correspondent's Scheme (BC Scheme) came as a godsend. She now earns a living by providing financial services to thousands of peasants in her district in exchange for a commission.

Similarly, during the lengthy new coronavirus pandemic era, the plan saved Sultanpur's Abha, a housewife who was trying to make ends meet due to financial restrictions. Amna Khatoon of Moradabad has a similar experience to tell. Since she became a banking sakhi, her life has been better.

She had joined a self-help group after finishing her education before becoming a banking correspondent.

This is the story of thousands of women across Uttar Pradesh, not only Anchal, Abha, and Amna, who are becoming self-sufficient and empowered thanks to the Banking Correspondents Scheme.

It's worth noting that the initiative was introduced on May 22, 2020, by the Uttar Pradesh administration, led by Chief Minister Yogi Adityanath. Since then, 24,526 women affiliated with the Uttar Pradesh State Rural Livelihood Mission have become banking correspondents and are offering banking services to individuals in villages around the state.

So far in Uttar Pradesh, women involved with the Banking Correspondent Scheme have completed 1,14,01,098 transactions worth Rs 23,24,08,67,408, demonstrating how the scheme is assisting rural women in becoming independent and self-reliant.

The banking sakhis have earned a total commission of Rs 6,04,68,904 in the state by bringing the bank to the peasants' doorsteps to make their lives easier. In both villages and cities, the BC Scheme provides 24-hour financial services. It has enormous potential for employing millions of women, particularly in rural areas.

During Chief Minister Yogi Adityanath's previous tenure, he launched Mission Rojgar, Mission Shakti, and Mission Welfare in order to make Uttar Pradesh self-sufficient, and government-affiliated institutions are continuing to implement the master plan established in this regard. Banking correspondents are being sought by UP Industrial Consultants Limited (UPCon), in collaboration with Bank of Baroda and UCO Bank.