March 4, 2022 (GPN) National: Dr. G.R. Chintala, theChairman of NABARD , the development bank of the nation for fostering rural prosperity was on a one-day visit to meet and discuss rural financial inclusion initiatives with the Jharkhand Rajya Gramin Bank (JRGB), headquartered inRanchi. During the visit, the Chairperson and his team of dignitaries discussed various new initiatives and innovations that will be the foundation of rural growth in the districts of Jharkhand.

The visit was kickstarted with a glimpse of Jharkhandto Dr. Chintala with a tribal dance and traditional garlanding. After the felicitation, senior bank officials gave a detailed presentation of the initiatives of the bank to the dignitaries who were then invited to share their views, opinions and ideas around rural financial inclusion. The dignitaries also disbursed loans to various Self-Help Groups and Farmer Producer Organizations,amongst other entities working at the village level. An important MOU betweenNABARD and JRGB was also signed during this visit.

Speaking on the occasion , Dr. G.R. Chintala, theChairman of NABARD, said, “For India to achieve new heights, it is important that we foster the growth of rural India. The role of women in the development of rural India is commendable and of utmost importance. The various initiatives like the one taken today for the development and financial inclusion of the rural people are what the country needs now.”

Commenting on the various breakthroughs for Jharkhand,Chairman of JRGB, Mr. Piyush J Bhatt said, “RRBs (Regional Rural Banks) are the extended arms of NABARD. We have and will consistently focus on implementing the policies of NABARD. JRGB has its presence in all 24 districts of Jharkhand and is working for the upliftment of the people of Jharkhand with its partners.”

Mr. Rohit Kumar, Founder & CEO of XPay.Life said, “Weare one of the most enterprising fintech start-ups of the country. Our aim is to make life simpler with secure transactions and innovations. Our Mobile Vanfor Rural Development is one of our most innovative and meaningful offering,which we are excited to launch in Jharkhand in partnership with JRGB. Financial inclusivity and easy access of banking facilities is our goal, and we are excited to forge ahead into the future providing growth opportunities for the people of Jharkhand through our solutions.” One of the key successes of this visit was the launch of a very innovative product of JRGB, namely the Mobile Van for RuralDevelopment. Fashioned as a Bank on wheels, the fully furnished luxurious van will travel to the local villages spreading financial and digital literacy apart from allowing the banks’ customer and others to make bill payments,withdraw cash and perform various banking activities at their doorstep. Createdby Bengaluru based XPay.Life, the mobile van is running successfully in overten states across many DCCB’s at the district level enabling rural digital transactions. This would be the first such initiative in Jharkhand. The van is subsidized by NABARD to incentivize digital growth in rural India and powered by the technology provided by XPay.Life as an end-to-end solution with zero hassle to the bank. 

About NABARD NABARD is fully owned by the Govt. of India and has been instrumental in creating solutions to benefit the rural villages and districts of India. With their focus in growing rural India at the grass roots level, they have, since its inception in 1982, helped villagers get easier access to funds, education via literacy programs and information for bettering their livelihoods. Its Chairman, Dr. G.R. Chintala was previously the ManagingDirector of NABFINS, a subsidiary of NABARD.

About JRGB
JRGB is a Regional Rural Bank present in over twenty-four districts in Jharkhand with eight regional offices and over 440 branches in the state. It came into existence in 2019 and has been pivotal in ensuring maximum reach to all its customers for banking related activities.Helmed by Shri Piyush Bhatt, Chairperson of the bank, it has endeavored to bring about a change in how rural India transacts in Jharkhand. About XPay.Life XPay.Life is a one stop destination for DigitalPayment Solutions. XPay.Life facilitates bill payment for the recurring payment categories of Electricity, Water, and thousands more . The firms USP is UtilityBill Payment through its ATP Kiosk, PoS machines and Mobile Van where cash payment is accepted along with credit/debit cards, UPI, Net Banking, Internet banking etc. The payment through XPay Life is BBPS/NPCI assured and hence adds trust and credibility to your payment. The payment service follows the highest standard of security through its proprietary AMBIC model.