The finance ministry on Thursday asked state-run banks and other financial institutions to step up efforts to ensure that they meet targets under various financial inclusion and social security schemes for this fiscal.
They were also advised to organise financial literacy camps to improve awareness about various official schemes, including those on micro insurance and digital financial transactions including UPI Lite, according to an official statement.
The directive came at a meeting with chiefs of state-run banks and other institutions here, chaired by financial services secretary Vivek Joshi.
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Joshi reviewed the progress made by various banks on schemes, including Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri MUDRA Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY) and Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PMSVANidhi) scheme. He also took stock of the disbursement of farm credit in the current fiscal.
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Public-sector banks were also asked to PSBs to utilise the vast PM-Kisan database to offer Kisan Credit Card (KCC) facility to all the farmers in the country. Joshi also reviewed the progress of the Agriculture Infrastructure Fund. Officials from the Department of Agriculture & Farmers’ Welfare were also present in the review related to agricultural credit. Under the KCC facility, farmers get short-term revolving credit. Using the KCC, farmers can seek a loan of up to Rs 3 lakh at a cheaper rate of 4%.