The Jammu and Kashmir Bank, in partnership with the Jammu and Kashmir Rural Livelihood Mission (JKRLM), has launched an initiative to provide banking services to remote areas of the Devsar block in Kulgam district. The program utilizes Banking Correspondent Sakhi, a role played by women from local Self-Help Groups (SHGs), to deliver banking-related services directly to the people in their vicinity. This initiative aims to increase access to financial services, particularly for women in rural areas, and promote digital finance.
According to Ozma Jan, a Banking Correspondent Sakhi from Checki Budwami village, the program has been successful in delivering financial services to isolated rural areas where access to banking facilities is limited. The use of SHG women as Banking Correspondent Sakhis has enabled the provision of essential financial services, including withdrawal of pensions, scholarships, wages, and other Direct Benefit Transfer (DBT) benefits. This model also enhances the reach of insurance and pension services to rural households.
The Jammu and Kashmir Bank has established three Khidmat Centres in the Devsar block to offer banking-related services to SHG members. These centres bring banking services directly to the community, increasing access to financial services and promoting financial inclusion. Ozma Jan, who has been associated with the JKRLM for six years, has been earning her livelihood through this initiative and has seen the positive impact it has had on her community.
Another Banking Correspondent Sakhi, Fizma Jan, applied for a Khidmat Centre through JKRLM in December 2024 and has been delivering banking-related services to the residents of YH Baba village since May 2025. The village previously had no accessible banking facilities, making this initiative a vital service for the local community. The program’s use of local women as Banking Correspondent Sakhis has not only increased access to financial services but also provided a sustainable business approach for banking agents, enhancing the penetration and long-term availability of financial services in rural areas.