In a significant move to strengthen financial inclusion in rural Bihar, Bihar State Cooperative Bank (BSCB) and COMFED, Patna, signed a crucial Memorandum of Agreement (MoA) at Hotel Kautilya Panash on Tuesday.
The agreement aims to connect Primary Dairy Cooperative Societies (PDCS) with formal banking services under the Government of India’s “Sahkarita Mein Sahkar” initiative. Through this partnership, PDCS will be developed as Bank Mitras, enabling doorstep banking services across rural areas.
Micro-ATMs will facilitate cash deposits, withdrawals, balance inquiries, account opening, digital transactions, loans, and insurance services. The initiative is expected to benefit dairy farmers, women, and rural households by reducing their dependence on physical bank branches.
The MoA was signed by Manoj Kumar Singh, Managing Director, BSCB, and Sameer Saurabh, Managing Director, COMFED, in the presence of Bihar’s Cooperation Minister Dr. Prem Kumar and Animal & Fisheries Resources Minister Surendra Mehta, along with senior officials from NABARD and the state cooperative sector.
The initiative is set to accelerate rural economic growth and empower farmers through cooperative-led financial access.