DFS Secretary reviews performance of Private Banks in Financial Inclusion Schemes

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Dr. Vivek Joshi, Secretary, Department of Financial Services (DFS), Ministry of Finance, chaired a review meeting on the progress and performance of Financial Inclusion Schemes, including PM SVANidhi, PM Vishwakarma, and Jan Samarth Portal with senior executives of Private Sector Banks, in New Delhi today.

Review Meeting on Financial Inclusion Schemes with Dr. Vivek Joshi
Review Meeting on Financial Inclusion Schemes with Dr. Vivek Joshi

Review of Financial Inclusion Schemes:

During the meeting, Dr. Joshi reviewed the progress under various Financial Inclusion schemes, including Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), Pradhan Mantri Mudra Yojana (PMMY), Stand Up India, PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi), PM Vishwakarma, etc. He also assessed the progress of opening brick & mortar branches of banks and deployment of Banking Correspondents (BCs) in unbanked villages.

Significant Progress and Urging Participation:

Dr. Joshi underlined the significant progress made in expanding social security and deepening financial inclusion in the country through various flagship schemes of the Government. He discussed in detail the progress made by private banks for deepening Financial Inclusion and urged them to increase their participation in financial inclusion schemes.

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Focus on Marginalized Sections and Jan Samarth Portal:

Dr. Joshi exhorted private banks to give more thrust on serving the marginalized sections of the society and fulfilling their banking needs. He highlighted the importance of Jan Samarth portal that presents information of credit-linked schemes of the government on a single platform, improving customer experience and assisting banks in the acquisition of customers.

Importance of Financial Inclusion Programmes:

Dr. Joshi emphasized the importance of financial inclusion programs in providing basic financial services in reaching the last mile and also exhorted banks to organize financial literacy camps to spread awareness about various financial inclusion schemes, including Jan Suraksha schemes, across various sections of society.

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