Bank of Baroda, one of India’s leading public sector banks, has partnered with Women’s World Banking (WWB)—a global non-profit organization dedicated to providing low-income women with access to financial tools for long-term security and prosperity—to roll out the third and most expansive phase of the ‘Baroda Jan Dhan Plus’ programme across 25 districts of Uttar Pradesh and all 13 districts of Uttarakhand.
This third phase aims to reach a wide base of existing Jan Dhan customers of Bank of Baroda through financial literacy camps and business correspondents (BCs). It will promote the benefits of savings and provide access to formal credit via the PMJDY Overdraft Facility and other social security schemes. As part of the programme, over 2,000 business correspondents and 1,000 BC Sakhis (women business correspondents) will be trained and empowered to support women customers in their respective regions.
The programme builds on the strong foundation of the Pradhan Mantri Jan Dhan Yojana (PMJDY), which has successfully integrated approximately 251.1 million women into the formal banking ecosystem. However, women account holders need a stronger reason to engage meaningfully with banks in order to realize the full benefits of financial inclusion. 'Baroda Jan Dhan Plus' presents a compelling proposition by encouraging women to save ₹500 per month for five months, fostering a banking relationship that can eventually lead to a PMJDY overdraft loan facility of up to ₹10,000.
The model is based on three core pillars:
Creating a welcoming banking ecosystem for low-income women.
Making savings relatable and rewarding for women.
Training BC agents with soft skills and a gender-focused approach to better serve the needs of women customers.
This approach not only empowers women but also helps banks deepen their understanding of this important customer segment and tailor products and services accordingly.
Shri Vikramaditya Singh Khichi, Executive Director, Bank of Baroda, stated:
“Financial inclusion of women, especially those with low incomes, requires a nuanced, long-term approach involving ongoing engagement and a supportive environment. ‘Baroda Jan Dhan Plus’, developed in collaboration with Women’s World Banking, goes beyond financial inclusion to foster financial empowerment by unlocking the full suite of PMJDY benefits—beyond just a bank account.”
The initial two pilot phases of the programme were conducted from January 2020 to January 2022 across 170 Bank of Baroda branches, involving over 650 BCs and 100+ BC Sakhis in Mumbai, Delhi, Chennai, and Shahjahanpur (Uttar Pradesh). These pilots demonstrated that when financial products are designed to address women-centric barriers, they successfully engage not only women but also the broader customer base.
Ms. Kalpana Ajayan, Regional Head, South Asia, Women’s World Banking, added:
“Women are among society’s most active and committed savers, often holding the key to their household’s financial resilience. From the outset, we have recognized the immense potential of women account holders in strengthening the financial sector. When nurtured, they become confident banking participants, creating value for themselves, financial institutions, and the broader economy. We are encouraged to see a leading institution like Bank of Baroda scale this initiative. We also express our gratitude to the Michael & Susan Dell Foundation, Visa Foundation, Walmart Foundation, and Bill & Melinda Gates Foundation for their support in incubating and scaling this impactful project.”
.jpg)