Finance Ministry has called a meeting of heads of Public Sector Banks (PSBs) on April 13 to review progress of various financial inclusion schemes, including Jan Suraksha and Mudra Yojana.
The meeting is scheduled to be chaired by Financial Services Secretary Vivek Joshi.
According to sources, the meeting to be chaired by the Secretary would also discuss and review the progress of StandUp India and PM SVANidhi Schemes.
To achieve saturation under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY), the Finance Ministry on Saturday launched a three-month campaign starting April 1.
Under the campaign, camps are being organised at the Gram Panchayat level across all districts in the country by the banks with active participation of the state administration and other ministries of the Government of India to ensure that benefits of the two Jan Suraksha schemes reach the masses.
The PMJJBY offers life insurance cover of Rs 2 lakh, in case of death due to any reason, to people in the age group of 18-50 years having a bank or post office account, who give their consent to join or enable auto-debit of premium.
On the other hand, the PMSBY offers insurance cover of Rs 2 lakh for accidental death or total permanent disability and Rs 1 lakh for partial permanent disability to people in the age group of 18-70 years with a bank or post office account, who give their consent to join or enable auto-debit of premium.
In order to promote entrepreneurship at the grass-root level, banks have sanctioned more than Rs 40,700 crore to over 1.80 lakh beneficiaries under StandUp India Scheme in seven years.
StandUp India Scheme, launched on April 5, 2016, with a focus on economic empowerment and job creation, has been extended up to 2025.
The scheme aims to encourage all bank branches in extending loans to borrowers belonging to SC, ST and women borrowers in setting up their own greenfield enterprises.
Last year, the government approved the continuation of the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme till December 2024.
The PM SVANidhi Scheme was launched in June 2020 by the government as a micro-credit facility with an aim to empower street vendors to recover losses incurred as a result of the Covid-19 pandemic.
Through PM SVANidhi, affordable collateral-free loans are given to street vendors. PTI DP SHW SHW
