Odisha govt. has asked the banks to set up more number of branches in rural and unbanked gram Panchayats (GPs) of the state. The govt. wants the bank to cover all the unbanked GPs by end of the plan period. The banks will be provided free space in Panchayat buildings and Rajiv Gandhi Seva Kendras for 5 years for setting up the banks in unbanked GPs.
The Director Ministry of Finance reported that in year 2013-14 a noticeable development has been seen in opening of new branches in the state. In this year a total of 458 new branches have been established which is much more in comparison to 229 in 2012-13 and 260 in 2013-14.
The growth rate of opening branches was 11.95 per cent last year. According to the reports by the end of March 2014, a total number of 4281 branches of several banks are operating in different parts of the state out of which 2335 are in rural areas, 1143 in semi urban and 803 in urban areas.