Saturday, January 28, 2023

Finance Ministry issued advisory for banks, asked questions regarding the target of government schemes!

Finance Ministry News: The Finance Ministry has asked all the banks about the target of security schemes and schemes that will benefit the people during this financial year. The advisory was issued to heads of public sector banks (PSBs) and financial institutions during a review meeting chaired by Financial Services Secretary Vivek Joshi.

An official statement said that during the meeting 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 and Pradhan Mantri Street Vendors Self Fund (PMSVinidhi) and agricultural loans, etc. were informed about the target of the schemes.

Banks were advised to set up camps 

According to the advisory, apart from the information on these schemes that take care of financial benefits and social security, PSBs were also asked to meet the targets given under the schemes for 2022-23. Banks were also asked to organize financial literacy camps to inform people about all schemes including micro-insurance schemes, UPI Lite, and financial transactions.

banking services strengthened 

In the last seven-eight years, banking services have easily reached people. With this, the banking services have become stronger and banks are trying to strengthen the customer experience. The banking services were appreciated by the Finance Ministry in the meeting. Also, the Indian Banks’ Association (IBA) has already been requested to expedite user service ratings for all scheduled commercial banks.

Discussion took place from KCC to digital 

In order to provide the facility of Kisan Credit Card (KCC) to all the farmers of the country, PSBs were also requested to take the help of the PM Kisan database, about which information was taken. Apart from this, the progress of digitization was also discussed and it has been asked to start facilities on the portal for the settlement of claims.

Read More: Break on expensive EMI! RBI said the first milestone of monetary policy has been achieved as the inflation rate has come down to 6%.

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