Banking boom in Bastar: 31 new branches open in remote areas
Chhattisgarh’s Bastar region, once a hotbed of Maoist violence that also grappled with poor connectivity and lack of basic services, has been witnessing a major transformation as 31 new branches of banks have opened across the division in the last two-and-a-half years, officials said on Friday.
The expansion of banking infrastructure in remote tribal areas that were earlier rendered inaccessible due to insurgency is being seen as a key indicator of growing peace, public trust and development in Bastar, they said.
A new story of transformation is now being written in the Bastar division, and the most compelling example of this change is that 31 new bank branches have been opened in the region over the past two-and-a-half years, a Government official said.
The banking outreach gained momentum after the formation of the Vishnu Deo Sai Government in December 2023, with financial services now reaching deep interior regions of Bijapur, Sukma, Dantewada, Narayanpur, Kanker, Kondagaon and Bastar districts, all seven districts of Bastar division, he said. New branches were opened in remote locations such as Tarrem, Jagargunda, Chintalnar, Kistaram, Pamed, Samalwar and Kohkameta, areas that were once considered inaccessible due to insurgency, he said. Chhattisgarh was declared free from armed Maoists on March 31 this year.
Earlier, people had to travel long distances for basic banking work, but now services are becoming available at the village and block levels, he said. The improved banking network has accelerated financial inclusion in the tribal-dominated Bastar division, enabling people to more easily access bank accounts, digital payments, crop loans, insurance, pensions and self-employment schemes, he said. Benefits of various Direct Benefit Transfer (DBT) schemes, such as the Pradhan Mantri Jan Dhan Yojana, PM-Kisan Samman Nidhi, tendu leaf bonus payments, Van Dhan Yojana and social security pensions, have now been reaching beneficiaries directly into their bank accounts, reducing the role of middlemen and increasing transparency, the official added.
Women self-help groups have also benefited significantly from easier access to banking and credit facilities, which has boosted livelihood activities and small enterprises in rural areas, he said. It has also strengthened the local economy by improving access to financial assistance for farmers, traders and youth. Digital transactions through UPI, mobile banking, micro-ATMs and Aadhaar-enabled payment systems have been increasing rapidly in villages, he said.
The banking expansion has also opened new avenues for self-employment and entrepreneurship among local youth, he said.
