BoB plans to open 75% of total SHG accts digitally through Tabit
Bank of Baroda plans to open around 75 per cent of the total SHG accounts digitally through tablets (BoB World - Tabit).
image for illustrative purpose
Mumbai, Feb 19 Bank of Baroda plans to open around 75 per cent of the total SHG accounts digitally through tablets (BoB World - Tabit).
In an industry-first move, Bank of Baroda (Bank), one of India's leading public sector banks, today announced that it has introduced instant digital opening of Savings Accounts for Self Help Groups (SHG) through tablets (bob World - Tabit).
With SHG account opening through bob World - Tabit, the Bank has digitised its SHG on-boarding process, enabling instant account opening and providing a superior and more convenient banking experience to Self Help Groups. This initiative will also facilitatefaster credit linkages for SHGs, supporting the Government of India mission [under Deendayal Antyodaya Yojana – National Rural Livelihood Mission (DAY-NRLM)] and result in ease of banking.
Talking to Bizz Buzz, Akhil Handa, Chief Digital Officer, Bank of Baroda said, "Going forward, we expect to open around 75 per cent of the total SHG accounts digitally."
SHGs are local self-help groups that are formed in a community. The members are usually from a similar social-economic background. Members of an SHG can be women, men or a mix of both. We service all categories of SHGs, he added.
