Private Banks Urged to Boost Participation in Government Schemes
The finance ministry has instructed private sector banks to enhance their involvement in implementing government initiatives. This directive was issued during a review meeting chaired by the Department of Financial Services Secretary, focusing on financial-inclusion schemes and urging active participation in a nationwide financial inclusion campaign.
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The finance ministry has called upon private sector banks to bolster their participation in government schemes. The directive was issued by Department of Financial Services Secretary M Nagaraju during a review meeting concerning financial-inclusion initiatives like PMJDY and PMJJBY.
The meeting, attended by the senior management of private banks and IBA officials, emphasized a quick resolution of claims under Jansuraksha schemes and encouraged enhancing banking infrastructure, especially in rural and northeastern areas. The ministry highlighted these priorities in a social media post on X.
Additionally, banks were urged to actively participate in the three-month financial inclusion saturation campaign running until September, focusing on Re-KYC, opening PMJDY accounts, and enrolling in FI schemes.
(With inputs from agencies.)
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