Latest news with #JanSuraksha
Economic Times
30-06-2025
- Business
- Economic Times
DFS Secy directs faster settlement of claims under Jan Suraksha
The Finance Ministry has instructed private banks to actively participate in government initiatives. Focus is on swift claim settlements under Jan Suraksha schemes. Banks are urged to improve banking infrastructure in rural and northeastern areas. A three-month financial inclusion campaign is set until September 2025. This drive aims to saturate all gram panchayats. Tired of too many ads? Remove Ads The finance ministry on Monday directed private sector banks to increase their participation in the implementation of government schemes and fast settlement of the claims under Jan Suraksha schemes Financial services secretary M. Nagaraju stressed the fast settlement of the claims under Jansuraksha schemes, the finance ministry said in a post on X, noting that a meeting was held to review the progress of financial inclusion schemes."Financial services secretary directed private sector banks to increase their participation in the implementation of govt schemes. He stressed upon fast settlement of the claims under Jansuraksha schemes and the augmentation of banking infrastructure in rural areas & the northeastern region of the country," the finance ministry noted in a post on its post, it noted that the progress and performance of various financial inclusion schemes were reviewed, including PMJDY, PMJJBY, PMSBY, APY, PMMY & PMVishwakarma, along with senior management of private sector were further urged to actively engage and extend support for a three-month financial inclusion saturation campaign till September 2025 across all gram panchayats with a key focus on Re-KYC for eligible savings accounts, opening PMJDY accounts, and enrolments in financial inclusion schemes.
Time of India
30-06-2025
- Business
- Time of India
DFS Secy directs faster settlement of claims under Jan Suraksha
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The finance ministry on Monday directed private sector banks to increase their participation in the implementation of government schemes and fast settlement of the claims under Jan Suraksha schemes Financial services secretary M. Nagaraju stressed the fast settlement of the claims under Jansuraksha schemes, the finance ministry said in a post on X, noting that a meeting was held to review the progress of financial inclusion schemes."Financial services secretary directed private sector banks to increase their participation in the implementation of govt schemes. He stressed upon fast settlement of the claims under Jansuraksha schemes and the augmentation of banking infrastructure in rural areas & the northeastern region of the country," the finance ministry noted in a post on its post, it noted that the progress and performance of various financial inclusion schemes were reviewed, including PMJDY, PMJJBY, PMSBY, APY, PMMY & PMVishwakarma, along with senior management of private sector were further urged to actively engage and extend support for a three-month financial inclusion saturation campaign till September 2025 across all gram panchayats with a key focus on Re-KYC for eligible savings accounts, opening PMJDY accounts, and enrolments in financial inclusion schemes.
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Business Standard
30-06-2025
- Business
- Business Standard
DFS Secretary urges private banks to step up support for inclusion push
The Department of Financial Services (DFS) Secretary, M Nagaraju, on Monday urged private sector banks to deepen their participation in financial inclusion initiatives and ensure effective implementation of key government schemes aimed at expanding access to banking services for all. Chairing a high-level review meeting with senior management of private sector banks, Nagaraju assessed the performance of flagship schemes such as 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 PM Vishwakarma. The meeting was also attended by the Chief Executive Officer of the Indian Banks' Association (IBA) and senior officials from DFS. As part of the government's broader financial inclusion push, Nagaraju called for the active engagement of banks in the upcoming three-month Financial Inclusion Saturation Campaign, scheduled from 1 July to 30 September 2025. The campaign will cover all Gram Panchayats nationwide and will focus on completing re-KYC for eligible savings accounts, opening new PMJDY accounts, and boosting enrolments under various social security schemes. The DFS Secretary also stressed the need for timely settlement of insurance claims under Jan Suraksha schemes and highlighted the importance of augmenting banking infrastructure in rural and North-Eastern regions to ensure last-mile delivery of financial services.
Time of India
13-06-2025
- Business
- Time of India
FM Sitharaman to meet PSU bank chiefs on June 27 to review annual growth
Amid rate moderation by the Reserve Bank, Finance Minister Nirmala Sitharaman is scheduled to meet heads of public sector banks (PSBs) on June 27, to discuss host of issues including review of financial performance and implementation of various government schemes. This is going to be the first review meeting after the Reserve Bank on Friday carried out a jumbo policy rate cut of 50 basis points, and unexpectedly reduced the cash reserve ratio for banks to make available more money to lend in a bid to boost the economy. The RBI's six-member monetary policy committee, headed by Governor Sanjay Malhotra and consisting of three external members, voted five to one to lower the benchmark repurchase or repo rate by 50 basis points to 5.5 per cent. It also slashed the cash reserve ratio by 100 basis points to 3 per cent in tranches that will add Rs 2.5 lakh crore to already surplus liquidity in the banking system. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If you eat ginger every day for a month, your body will experience the following phenomena Tips and Tricks Undo According to sources, the Finance Minister would review the financial performance of public sector banks and their targets for the current financial year. Besides, sources said, the minister may urge public sector banks to increase their lending towards productive sectors to prop of economic growth which hit four-year low of 6.5 per cent in FY25. Live Events Comprehensive review of various segments and progress in government schemes including the Kisan Credit Card, PM Mudra and three social security (Jan Suraksha) schemes -- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY) might be discussed during the meeting. It is to be noted that Public Sector Banks' (PSBs) cumulative profit rose to a record level of Rs 1.78 lakh crore in the fiscal year ended March 2025, registering a growth of 26 per cent over the previous year. All 12 public sector banks had earned a total profit of Rs 1.41 lakh crore in FY'24. The year-on-year increase in profit in absolute terms rose by about Rs 37,100 crore in FY25. Out of the total profit of Rs 1,78,364 crore earned during FY'25, market leader State Bank of India (SBI) alone contributed over 40 per cent of the total earnings, as per the published numbers on stock exchanges. SBI logged a net profit of Rs 70,901 crore in FY25, 16 per cent higher than the previous fiscal (Rs 61,077 crore). In percentage terms, Delhi-based Punjab National Bank reported the highest net profit growth of 102 per cent to Rs 16,630 crore, followed by Punjab & Sind Bank with a 71 per cent rise to Rs 1,016 crore. During the year, all 12 public sector banks (PSBs) reported a rise in profit.
Mint
13-06-2025
- Business
- Mint
FM to meet heads of public sector banks on June 27 for annual review
New Delhi, Jun 13 (PTI) Amid rate moderation by the Reserve Bank, Finance Minister Nirmala Sitharaman is scheduled to meet heads of public sector banks (PSBs) on June 27, to discuss host of issues including review of financial performance and implementation of various government schemes. This is going to be the first review meeting after the Reserve Bank on Friday carried out a jumbo policy rate cut of 50 basis points, and unexpectedly reduced the cash reserve ratio for banks to make available more money to lend in a bid to boost the economy. The RBI's six-member monetary policy committee, headed by Governor Sanjay Malhotra and consisting of three external members, voted five to one to lower the benchmark repurchase or repo rate by 50 basis points to 5.5 per cent. It also slashed the cash reserve ratio by 100 basis points to 3 per cent in tranches that will add ₹ 2.5 lakh crore to already surplus liquidity in the banking system. According to sources, the Finance Minister would review the financial performance of public sector banks and their targets for the current financial year. Besides, sources said, the minister may urge public sector banks to increase their lending towards productive sectors to prop of economic growth which hit four-year low of 6.5 per cent in FY25. Comprehensive review of various segments and progress in government schemes including the Kisan Credit Card, PM Mudra and three social security (Jan Suraksha) schemes -- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY) might be discussed during the meeting. It is to be noted that Public Sector Banks' (PSBs) cumulative profit rose to a record level of ₹ 1.78 lakh crore in the fiscal year ended March 2025, registering a growth of 26 per cent over the previous year. All 12 public sector banks had earned a total profit of ₹ 1.41 lakh crore in FY'24. The year-on-year increase in profit in absolute terms rose by about ₹ 37,100 crore in FY25. Out of the total profit of ₹ 1,78,364 crore earned during FY'25, market leader State Bank of India (SBI) alone contributed over 40 per cent of the total earnings, as per the published numbers on stock exchanges. SBI logged a net profit of ₹ 70,901 crore in FY25, 16 per cent higher than the previous fiscal ( ₹ 61,077 crore). In percentage terms, Delhi-based Punjab National Bank reported the highest net profit growth of 102 per cent to ₹ 16,630 crore, followed by Punjab & Sind Bank with a 71 per cent rise to ₹ 1,016 crore. During the year, all 12 public sector banks (PSBs) reported a rise in profit.
