Jammu Jan 17, ANB: National Bank for Agriculture and Rural Development (NABARD) has played a crucial role in promoting financial Inclusion in UT of Jammu & Kashmir.
Over the past years, NABARD has conducted more than 16000 Financial and Digital Literacy Camps (FiDgi) covering around 4 lakh rural individuals to educate them about government schemes, banking services, and safe use of digital tools through its partners.
NABARD has also supported the installation of over 12,000 POS and mPOS machines to encourage cashless transactions in remote areas to various banks. To bring banking closer to people, NABARD has introduced and sanctioned 13 mobile vans to various banks that demonstrate banking technologies and run awareness campaigns.
Further, NABARD has facilitated promotion of 11000 Joint Liability Groups (JLGs) in the UT for purveying credit in the rural areas to benefit small/marginal and landless farmers.
Additionally, 48 Centers for Financial Literacy (CFLs) have been set up in the UT to teach people about banking products and help them make better financial decisions. NABARD has also provided grants to banks to deploy 400 micro-ATMs to provide doorstep banking services in underserved areas.
Understanding the need for reliable services in off-grid areas, NABARD has provided a grant of ₹2.89 crore to install 289 solar-powered units at banking points to ensure continuous services. It has also helped local banks adopt modern Core Banking Systems (CBS), which allow seamless digital banking for customers.
To make digital transactions safer, NABARD has introduced features like the Positive Payment System for cheque verification and the Green PIN Facility for secure ATM PIN generation. NABARD’s efforts are bridging gaps in financial access, improving livelihoods, and bringing economic growth to rural Jammu & Kashmir. (ANB)
