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Finance Ministry Advises Public Sector Banks To Achieve Flagship Targets For Social Security Schemes
According to the official statement by the ministry, it has also instructed to organise financial literacy camps to spread awareness regarding various official schemes such as micro-insurance and digital financial transactions including UPI Lite
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The Union Finance Ministry on Thursday advised the operating heads of public sector banks (PSBs) and financial institutions to achieve 'flagship targets' under the financial inclusion and social security schemes for the current financial year. The advisory was notified at the review meeting headed by financial services secretary Vivek Joshi.
According to the official statement by the ministry, it has also instructed to organise financial literacy camps to spread awareness regarding various official schemes such as micro-insurance and digital financial transactions including UPI Lite.
The meeting helped to track the progress of various social security or Jan Suraksha schemes such as the Pradhan Mantri Jan Dhan Yojana (PMJDY), Atal Pension Yojana (APY), Pradhan Mantri MUDRA Yojana (PMMY), Prime Minister Street Vendor's AtmaNirbhar Nidhi (PMSVANidhi), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and the disbursement of farm credit loans etc.
Meanwhile, the department of agriculture and farmer welfare also witnessed the agricultural credit review. The statement further mentioned the directions assigned to PSBs for utilising the vast PM-Kisan database, for offering Kisan Credit Card (KCC) facility for the country’s farmers.
The progress of agricultural infrastructure funds was also reviewed by Joshi and under the KCC facility farmers were approved to get a loan of up to Rs 3 lakh at a cheaper interest rate of 4 per cent.