
The Finance Ministry has called a meeting of heads of Public Sector Banks (PSBs) on Tuesday to review the progress of various financial inclusion schemes. The meeting will be chaired by Financial Services Secretary Vivek Joshi. The purpose of the meeting is to assess the progress of flagship schemes such as PM Vishwakarma, StandUp India, and PM SVANidhi, among others. Additionally, other financial inclusion-related issues will be discussed. The meeting will also review the targets for the PM JanDhan Yojana and the status of inoperative accounts under the scheme, as well as the issuance of RuPay cards. The review of these schemes is significant as the Union Budget is expected to focus on welfare schemes and inclusive growth. Click here to Download Banking Schemes PDF →
PM Vishwakarma Scheme and Other Schemes to be Reviewed
One of the schemes likely to be discussed at the meeting is the PM Vishwakarma scheme, which was launched in 2023 to provide end-to-end support to artisans and craftspeople. This scheme aims to provide loan assistance to traditional craftsmen and artisans at a minimal interest rate without the need for collateral. The meeting will also review other schemes such as PMJJBY, PMSBY, Atal Pension Yojana, and Prime Minister Street Vendor’s AtmaNirbhar Nidhi. Click here to Download Banking Schemes PDF →
Importance of Financial Inclusion Schemes
Financial inclusion schemes play a crucial role in promoting inclusive growth and ensuring that all sections of society have access to financial services. These schemes aim to provide financial support and assistance to individuals and businesses, especially those in marginalized communities. By reviewing the progress of these schemes, the Finance Ministry can assess their effectiveness and make any necessary adjustments to ensure their successful implementation.
Conclusion
The Finance Ministry has called a meeting of heads of Public Sector Banks to review the progress of various financial inclusion schemes, including the PM Vishwakarma scheme. The meeting will be chaired by Financial Services Secretary Vivek Joshi. The review of these schemes is important in the context of the upcoming Union Budget and the government’s focus on welfare schemes and inclusive growth. Financial inclusion schemes play a crucial role in promoting inclusive growth and providing financial support to marginalized communities.