Latest news with #PMSBY
Mint
a day ago
- 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.
New Indian Express
2 days ago
- Business
- New Indian Express
Union Bank of India to implement three-month financial inclusion drive in Vijayawada
VIJAYAWADA: The Union Bank of India (UBI) has announced the rollout of a nationwide three-month Financial Inclusion Saturation Campaign, set to run from July 1 to September 30, 2025. Initiated by the Department of Financial Services, Government of India, the campaign aims to ensure that financial services reach every eligible citizen, with a focus on empowerment through access to banking, insurance, pension, and digital tools. The campaign will emphasise complete coverage under key schemes such as the Pradhan Mantri Jan Dhan Yojana (PMJDY), PM Suraksha Bima Yojana (PMSBY), PM Jeevan Jyoti Bima Yojana (PMJJBY), and the Atal Pension Yojana (APY). It will also facilitate re-KYC updates for older and inactive accounts and raise awareness about digital frauds and claims related to unclaimed deposits. Nationwide, special financial camps will be held in all 2.7 lakh Gram Panchayats. In Andhra Pradesh, 13,324 Gram Panchayats will be covered. The campaign will be monitored daily by the State-Level Bankers' Committee (SLBC) and district-level Lead Bank Managers. As of now, Andhra Pradesh has recorded 1.70 crore PMJDY accounts, 0.38 crore APY subscribers, 2.86 crore PMSBY enrolments, and 1.29 crore under PMJJBY.
Hans India
2 days ago
- Business
- Hans India
Collector fights for awareness on central insurance schemes
Nandyal: District Collector G Raja Kumari has directed officials to actively conduct the Grama Sthayi Jan Suraksha campaign across the district from July 1 to September 30, with a focus on creating wide-scale awareness about Central Government insurance schemes. Addressing officials during a public grievances redressal platform held at the PGRS Hall in the Collectorate on Monday, the Collector stressed the need for intensified outreach at the village level to ensure maximum public participation in these welfare initiatives. Participating in an awareness programme held after the grievance session, the Collector, along with Joint Collector and other senior officials, explained the details of the Central insurance schemes. She instructed the DRDA, DLDCO, and DPO to promote schemes like Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) during the campaign period. Under PMSBY, individuals aged between 18 and 70 years can avail accident insurance coverage of Rs 2 lakh by paying an annual premium of just Rs 20. Similarly, under PMJJBY, individuals aged 18 to 50 years can get life insurance coverage of Rs 2 lakh for an annual premium of Rs 436. The Collector also highlighted the importance of the Atal Pension Yojana, stating that citizens who make monthly contributions to their bank accounts under the scheme will be eligible for a fixed pension after attaining 60 years of age. She urged officials to promote these schemes extensively in rural areas and ensure that eligible citizens are properly guided to enroll in them. Furthermore, the Collector emphasized the need to complete re-KYC of Jan Dhan accounts opened in 2014 by June 30, 2026. Bank account holders should be educated about the requirement to submit updated Aadhaar cards and recent photographs for re-KYC. She also instructed the Lead District Manager to spread awareness about digital banking transactions, urging the Municipal Commissioner and MPDOs to ensure comprehensive awareness campaigns in rural areas on secure and efficient digital financial practices. Joint Collector C Vishnu Charan, DRO Ramu Naik, LDM Ravindra Kumar, and other district officials were present during the meeting.
The Hindu
2 days ago
- 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.
Time of India
2 days ago
- Business
- Time of India
Govt to conduct financial inclusion saturation campaign from July 1
Vijayawada: A statewide financial inclusion saturation campaign will be conducted in Andhra Pradesh from July 1 to September 30, in line with a national initiative by the govt of India (GoI). Announcing the campaign, AP state level bankers' committee (SLBC) chairman C V N Bhaskara Rao said that the effort is aimed at ensuring financial services and security reach every eligible citizen in the state. The campaign focuses on comprehensive financial inclusion—not just bank accounts, but also access to credit, insurance, pensions, and digital financial services. Special camps will be organised in all 13,324 gram panchayats of Andhra Pradesh. Bankers will visit villages directly to carry out e-KYC updates of old or inactive Jan Dhan accounts and ensure that every family has at least one functional bank account. These efforts are expected to improve access to govt benefits through direct transfers and increase participation in financial schemes. Enrolment under flagship schemes such as Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), and the Atal Pension Yojana (APY) will be prioritised. In addition to account services and insurance coverage, the campaign will also conduct a special awareness drive on cybercrime and frauds related to UPI and other digital payment systems, educating rural citizens about online safety and precautions. As of now, Andhra Pradesh recorded 1.70 crore PMJDY enrolments, 2.86 crore under PMSBY, 1.29 crore under PMJJBY, and 0.38 crore under APY. The SLBC will monitor the campaign's progress daily, while district-level implementation will be supervised by lead district managers. The SLBC has requested the state govt to instruct Panchayat-level officials and elected representatives to actively support and promote the campaign, ensuring its success at the grassroots level.
