OSAFII organises state level financial inclusion conclave

Bhubaneshwar: Odisha’s first of its kind state level financial inclusion conclave was inaugurated by Shri H.R. Khan, Former Deputy Governor, RBI today in Bhubaneshwar. The conclave was organised by OSAFII. Shri H.R. Khan also presented the keynote address.

Around 160 delegates from across the country participated at the event. According to Shri Parshuram Nayak, President, OSAFII, “This conclave is aiming for bringing together all the Financial Inclusion Institutions working in the state of Odisha for Development of the poor and to serve them through responsible finance with dignity and respect.”

Speaking on the occasion Shri Dibyajyoti Pattnaik, Board Member, OSAFII said, “Financial inclusion plays an important role in the overall development at the grassroots level. As more and more people come under the ambit of financial inclusion, it has connected them to the formal banking system enabling them to avail various financial services. In fact, increased access to credit has helped many from economically weaker sections to come out of the poverty through taking the entrepreneurship route. With the state government’s efforts, financial inclusion in Orissa has enabled millions, especially in rural areas to enter the formal banking system.  However, there are still several gaps and challenges at the infrastructural and implementation level that have posed hurdles in achievement of complete financial inclusion. This platform is an effort to bring together several stakeholders to start a dialogue around the achievement of complete financial inclusion and identify the challenges with probable solutions.”

Shri Mohammad Nooruddin Amin, Secretary, OSAFII said, “Through financial inclusion we want to rebuild Odisha, with all the components of growth available in our state, I wonder why people are yet to catch up to the mainstream economic growth process. We need to make rural Odisha financially inclusive and thus making the people financially sustainable. Let this conclave lay the foundation stone for growth and development of rural Odisha. Let us create examples which can be replicated across the country. On this auspicious occasion, I appeal for the united effort by Government, Non-Government and the Private sector to work together. I congratulate the people, especially the women of Odisha who have helped us to reach them. Inspite of all odds their financial discipline is praised by all in the country. We seek the support of all to make Odisha a developed state.”

This conclave was aimed at creating an eco-system to further the larger agenda of financial inclusion in Odisha state.  The panel discussions focused on the challenges and the prospect of financial inclusion in the state and role of stakeholders in accelerating the speed of financial inclusion. The discussions also revolved around the value of different models, technology innovations and importance of the enabling environment.

A launch Programme on Atal Pension Yojana was organized in the conclave in partnership with Pension Fund Regulatory and Development Authority (PFRDA) under the Poorest States Inclusive Growth (PSIG)  programme of SIDBI, with support from Department for International Development (DFID). ACCESS ASSIST as a partner of SIDBI is conducting Atal Pension Yojana Roll out & promotion programme targeting a total population of 3 lakhs.

Several dignitaries from the government, RBI, SIDBI, commercial banks and domain experts participated at the event. Some of the dignitaries who were present included – Nitin Chandra I.A.S. Principal Secretary SSEPD, A.R.Samal, GM-RBI, B. V. G. Reddy, CGM-SBI, Prakash Kumar, CGM-SIDBI, G.C.Gaur, GM-SIDBI PSIG, Dr. K. C. Panigrahi, CGM-NABARD, Ratna Vishwanathan, CEO, Microfinance Institutions Network, Devesh Sachdev, Vice President, Microfinance Institutions Network, Ashutosh Kumar, YES Bank, Dr. H.K.Pradhan, XLRI, S.Mahapatra, DGM-Canara Bank, Manish Mani, PFRDA, and Narendra Nayak, ASSIST.