Vivek Joshi Urges Private Banks to Boost Financial Inclusion for Marginalised Sections

Financial Services Secretary Vivek Joshi chaired a meeting with private sector banks, urging them to intensify efforts to serve marginalised sections through financial inclusion schemes. Joshi reviewed various schemes such as PMJDY, PMJJBY, and PMMY, and emphasized the importance of financial literacy in unbanked areas.

Financial Services Secretary Vivek Joshi on Tuesday chaired a review meeting on the progress of financial inclusion schemes with senior executives of private sector banks. He exhorted them to give more thrust on serving the marginalised sections of society and fulfilling their banking needs.

During the meeting, the performance of various Financial Inclusion Schemes, including PM SVANidhi, PM Vishwakarma, and the Jan Samarth Portal, were reviewed, according to an official statement. Joshi also evaluated progress under 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 Stand Up India.

Joshi took stock of the progress of opening brick-and-mortar branches and deploying Banking Correspondents (BCs) in unbanked villages. He noted significant progress in expanding social security and financial inclusion through government flagship schemes. He urged private banks to increase their participation and also highlighted the importance of the Jan Samarth portal, which consolidates information on credit-linked schemes, improving customer experience and aiding banks.