Latest news with #Jansuraksha
Mint
01-07-2025
- Business
- Mint
Centre launches financial inclusion saturation drive across 270,000 villages, towns
New Delhi: In yet another effort to expand the reach of the government's financial inclusion schemes across the country, the Department of Financial Services under the finance ministry has launched a nationwide campaign aimed at achieving saturation at the gram panchayat (GP) and urban local body (ULB) level. The campaign, which will run from 1 July to 30 September, aims to cover all 270,000 GPs and ULBs in India. It seeks to spread awareness about the banking services available to citizens and explain how individuals can secure their financial future and that of their family members. According to a statement from the finance ministry, launch events for the financial inclusion (FI) campaign were organised at 33 locations across the country. These events saw participation from public representatives, state government officials, SLBC conveners, bankers, and beneficiaries. In Gujarat, the Chief Minister addressed the event virtually. During this three-month period, the campaign will focus on ensuring that Re-KYC of all savings bank account holders, wherever due, is completed in the targeted villages and towns. Another key objective is to open bank accounts for unbanked adults under the Pradhan Mantri Jan Dhan Yojana (PMJDY). The campaign will also promote enrolment in key government-backed social security schemes such as the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), the Pradhan Mantri Suraksha Bima Yojana (PMSBY), and the Atal Pension Yojana (APY). Alongside these efforts, the campaign will educate citizens through awareness sessions on digital fraud prevention, explain how to access unclaimed deposits, and guide people through grievance redressal procedures. Officials will also assist in updating nominations in bank accounts wherever they are pending. On the first day of the campaign, camps were conducted in 2,087 gram panchayats across the country. These received a strong response from beneficiaries, reflecting growing public interest in financial services and awareness. The push to broaden the reach of financial inclusion schemes comes in the wake of a finance ministry review that found private banks still lag behind in servicing these schemes. Following this, the ministry has urged both private and public sector banks to step up their efforts in improving coverage and service delivery. In addition to PMJDY, PMJJBY, PMSBY and APY, the broader campaign also seeks to raise awareness about other financial inclusion programmes, including the Pradhan Mantri Mudra Yojana (PMMY), Stand Up India, PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi), and PM Vishwakarma. Also Read | Govt to roll out credit rating for rural borrowers in six months During a review meeting held on Monday, financial services secretary M. Nagaraju underscored the importance of fast settlement of claims under the Jansuraksha schemes. He also emphasised the need to expand banking infrastructure in rural and northeastern regions and noted the significant progress India has made in strengthening social security and deepening financial inclusion through the government's flagship initiatives.
The Hindu
01-07-2025
- Business
- The Hindu
Finance Ministry asks private banks to increase their participation in implementation of govt schemes
The Finance Ministry directed private sector banks on Monday (June 30, 2025) to increase their participation in the implementation of government schemes. The direction was given by Department of Financial Services Secretary M. Nagaraju during a meeting to review the progress and performance of various financial-inclusion (FI) schemes, including the PMJDY, PMJJBY, PMSBY, APY PMMY and PM Vishwakarma, with the senior management of private sector banks. The meeting chaired by the Secretary was also attended by the IBA CEO and senior officials of the department. "Secretary directed private sector banks to increase their participation in implementation of govt schemes. He stressed upon fast settlement of the claims under Jansuraksha schemes, augmentation of banking infrastructure in rural areas and North-eastern region of the country," the Ministry said in a post on X. The banks were urged to actively engage and extend support for the three-month FI-saturation campaign (from July 1 to September 30) across all gram panchayats, it added. Key focuses include Re-KYC for the eligible savings accounts, opening PMJDY accounts and enrolments under FI schemes, the Ministry said.
Mint
30-06-2025
- Business
- Mint
Govt asks private lenders to boost participation in financial inclusion schemes
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.
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.
