Bank of Maharashtra has tied up with Mahagram, a leading fintech company to roll out the ‘Bank Sakhi’ project in the state of Odisha to provide financial technology and infrastructure support to the project. As part of the tie-up, the company has onboarded more than 11000 bank sakhis (women) on the BharatATM platform to help the rural citizens avail basic banking services at their doorstep or the next door Kirana stores, thereby driving rural financial inclusion.
As a large section of the population still does not have access to banks or is not financially literate enough to approach banks for availing basic banking services, Mahagram endeavors to reach out to such sections of the society, basically in the rural areas. Over the years Mahagram has carved a niche for itself as a tech-driven company focusing on innovative banking & financial technologies to help digitize villages. Aiming to address unserved rural, semi-urban, and urban markets through their vast network of 7 lakh established chains of retail outlets. It offers account opening, Aadhar enabled payment services, and various banking services at places where there are no banks within accessible limits.
Commenting on the development, Mr. Vasudev Phadnis, Director – Business, Mahagram, said that ‘This tie-up with Bank of Maharashtra will provide access to the doorstep and hassle-free banking services to the people of Odisha. We as a FinTech company are fully committed to the Government’s vision of covering all unbanked areas with Banking Services. We look forward to serving the people of Odisha using our innovative customer-friendly financial services and best in class customer experience across digital and physical touchpoints.”
Mahagram is currently servicing nearly 15000 PIN codes and providing basic banking, E-Governance & other BFSI services through the distribution network of around 700k+ retail partners (MoM & PoP stores). The company has expanded across 17 states with a strong foothold in Western, North, and Northeast states. The Mahagram’s mission is to create the largest distribution network of 20 lakh retail outlets.
