back Back

Mahagram to power Bank of Maharashtra’s project ‘Banksakhi’

By Leandra Monteiro

March 02, 2022

  • Bank of Maharashtra
  • Banking Services
  • Banksakhi

Bank of Maharashtra, Mahagram Bank of Maharashtra has tied up with Mahagram, a FinTech company to roll out the ‘Bank Sakhi’ project in the state of Odisha to provide financial technology and infrastructure support to the project. As part of the tie-up, the company has onboarded more than 11000 bank sakhis (women) on the BharatATM platform to help the rural citizens avail basic banking services at their doorstep or the next door Kirana stores, thereby driving rural financial inclusion.

As a large section of the population still does not have access to banks or is not financially literate enough to approach banks for availing basic banking services, Mahagram endeavors to reach out to such sections of the society, basically in the rural areas. Over the years Mahagram has carved a niche for itself as a tech-driven company focusing on innovative banking & financial technologies to help digitize villages. Aiming to address unserved rural, semi-urban, and urban markets through their vast network of 7 lakh established chains of retail outlets. It offers account opening, Aadhar enabled payment services, and various banking services at places where there are no banks within accessible limits.

Commenting on the development, Vasudev Phadnis, Director – Business, Mahagram, said that ‘This tie-up with Bank of Maharashtra will provide access to the doorstep and hassle-free banking services to the people of Odisha. We as a FinTech company are fully committed to the Government’s vision of covering all unbanked areas with Banking Services. We look forward to serving the people of Odisha using our innovative customer-friendly financial services and best in class customer experience across digital and physical touchpoints.”

Previous Article

March 02, 2022

LHV UK selects Tuum to provide its entire Core Banking infrastructure

Read More
Next Article

March 02, 2022

NPCI launches Yatra SBI Card co-branded contactless credit card

Read More

IBSi Daily News Analysis

UK, Bank

July 12, 2024

Bank of Maharashtra

Global securities lending revenue sees sharp 16% decline to $2.53bn in Q2 2024, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News


Payset and ClearBank partner for local and cross-border payments

Read More


Network International launches Business Payment Solutions with Mastercard

Read More


SaaScada & Partes sign embedded finance partnership in Switzerland

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
Wealth Management & Private Banking Systems Report Q2 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2024