DFS Secretary Exhorts Public Sector Banks To Achieve Targets Under Financial Inclusion Programmes

Financial Services Secretary Vivek Joshi on Thursday reviewed performance of public sector banks (PSBs) with regard to financial inclusion programmes and urged them to achieve targets set by them for the current financial year.

During the meeting 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 and PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi).

He also reviewed the progress of opening of brick & mortar branches of banks in unbanked villages having population of more than 3,000 people.

Joshi urged PSBs to diligently work toward fulfilling the targets set for them under these financial inclusion programmes for the current financial year.

The issues related to digital transactions were also discussed in the meeting with special focus on promotion of digital payments.

He underscored the importance of swift bank account verification for successful implementation of the PM Vishwakarma Scheme during the review of the banking preparedness of the newly-launched PM Vishwakarma scheme for supporting traditional artisans and craftspeople.

During the meeting, discussions were also held on the issues related to Central Know Your Customer (CKCY), Insolvency and Bankruptcy Code (IBC), Account Aggregators, National Cyber Security Awareness month, Public Grievances & Appointment of CISO, Government e-Marketplace (GeM) portal and Special Campaign 3.0.

He also asked the PSBs to encourage procurement through Government e-Marketplace (GeM).

Under the Special Campaign Disposal of Pending Matters 3.0, Joshi emphasised on speedy disposal of public grievances, activation of dormant accounts, updation of nomination details in bank accounts through regular campaigns.