Achieve targets under financial inclusion schemes for FY24 at earliest: DFS

Vivek Joshi, secretary, department of financial services urged the Public Sector Banks (PSBs) to achieve the targets allocated to them under the various schemes for financial inclusion for the current financial year at the earliest.

During the review meeting on Thursday with heads of PSBs, the progress under various social security (Jan Suraksha) 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), and Stand Up India were discussed.

On the progress and performance of the PM SVANidhi scheme, Joshi exhorted the banks to expeditiously clear the sanction/ disbursement pendency of applications. He further urged banks to devise the strategy and step up the efforts to increase the digital onboarding of street vendors and scale up their digital payments.

PM SVANidhi scheme envisages empowerment of street vendors through hassle-free access to affordable credit and their digital onboarding for their economic development.

During the meeting, Joshi also discussed with banks with a special focus on the progress under the ongoing four-month jan suraksha campaign of PMJJBY and PMSBY schemes in all the gram panchayats of the country being held from April 1. Further, Joshi impressed upon heads of the banks to regularly review the progress and ensure the achievement of targets of the saturation campaign.

During the meeting, the issues related to digital transactions were discussed with a special focus on promotion of digital payments. 

“Aspirational Blocks Programme (ABP) was also discussed. The status of the decisions of the consultative committee meeting with regard to holding of special District Level Review Committee (DLRC) to prepare a roadmap to cover the unbanked adults and credit outreach campaign in credit deficient districts were also reviewed in the meeting,” the finance ministry said in a release.

First Published: Jul 21 2023 | 12:07 AM IST

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