Villagers of two chiwogs under Nanong and Shumar Gewogs in Pema Gatshel have been able to cultivate good saving culture, thereby enhancing their economic status. This has been credited to the Bhutan Development Bank Limited’s (BDBL) Farmer’s Outreach Banking – a service, initiated for the two chiwogs in 2019.
Aligning with the BDBL’s focus on rural prosperity through prompt and efficient banking services, the Farmer’s Outreach Banking (FOB) takes the services closer to the rural communities.
The people of Chongmashing-Dagor chiwog in Shumar Gewog and Gashigkhar-Tshatshi chiwog in Nanong Gewog gather at Tshatsi BHU to receive the banking services once every month.
The BDBL has chosen the BHU as the location to render their services for it is easily reachable by the people of the two chiwogs.
For a farmer like Peldon from Tshatshi Village, her financial condition has improved compared to the past years.
“Earlier, I couldn’t save much since our earnings used to finish before we travel to banks, which are located far away from our villages. That time, we were not able to save money like today,” she added.
Apart from imbibing good saving habits, they are also pretty familiar with financial literacy. Such nearest banking services have also empowered them financially.
“Before the outreach banking came to our doorstep, we travelled to the bank located in Pema Gatshel town by hiring a taxi for Nu 3,000. Now with the service on our platter, we don’t have to spend a single penny,” told Karma, a villager from Dagor chiwog in Shumar Gewog.
The BDBL’s branch office in Pema Gatshel has plans to provide similar banking services to the people of Dungmaed Gewog.
“Some people have to travel to Nganglam and Gyalpozhing branch offices. They are often denied services due to roadblocks. So we have already planned to initiate a Farmer’s Outreach Banking at Migkuri Village,” shared the Branch Manager of the BDBL’s Branch Office in Pema Gatshel, Yeshi Jamtsho.
Pema Gatshel has 11 Farmer’s Outreach Banking stations, manned by six field staff. They have 900 registered clients from eight gewogs. The services include withdrawal and deposits of cash, loan approvals and other monetary services.
However, the bank has paused sanctioning loans since last month. This is due to the bank’s high non-performing loans.
Thinley Dorji, Pema Gatshel
Edited by Pema Lhaden
