The Union finance ministry on Monday exhorted private sector banks to increase their participation in financial inclusion schemes and serve the marginalized sections of society by fulfilling their banking needs.
The call came during a review meeting with senior officials of private sector banks in New Delhi. Indian Banks’ Association chief executive Atul Kumar Goel and senior officers of the department of financial services also attended the meeting chaired by department secretary M. Nagaraju.
The meeting reviewed the performance of private banks on various financial inclusion schemes, including Pradhan Mantri Jan Dhan Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana, Atal Pension Yojana, Pradhan Mantri Mudra Yojana, Stand Up India, PM Street Vendor’s AtmaNirbhar Nidhi and PM Vishwakarma.
The meeting also reviewed the progress of opening of brick and mortar branches of banks and deployment of Banking Correspondents in unbanked villages.
During the course of the review, the financial services secretary stressed upon fast settlement of claims under Jansuraksha schemes, augmentation of banking infrastructure in rural areas and north-eastern region of the country. He also underlined the significant progress made in expanding social security and deepening financial inclusion in the country through various flagship schemes of the government.
The finance ministry also urged banks to actively engage and extend support for three-month financial inclusion saturation campaign (1 July-30 September) across all village panchayats.
The secretary also discussed in detail the progress made by private banks in deepening of financial inclusion and urged them to increase their participation in financial inclusion schemes.
