Finmin holds preparatory meeting to launch financial inclusion drive

The finance ministry on Monday held a preparatory meeting to launch a special financial inclusion drive from October 15 to achieve saturation in respect of bank accounts and expansion of Kisan Credit Card coverage, among others.

Chaired by Department of Financial Services (DFS) Secretary Sanjay Malhotra in Pune, the meeting was attended by Bank of Maharashtra (BoM) Managing Director A S Rajeev, executive directors A B Vijayakumar and Asheesh Pandey, as well as senior officials of both the central government and district administration, BoM said in a statement.

The campaign from October 15 to November 26 this year will also focus on mobile/Aadhaar seeding of existing accounts, with a special focus on making small accounts normal accounts by completing full know your customer (KYC) requirements. The pilot financial inclusion campaign at the gram panchayat level will be held at select districts -- Cuttack (Odisha), Aurangabad (Maharashtra), Pune (Maharashtra), Kakinada (Andhra Pradesh), Kaushambi (Uttar Pradesh), Datia (Madhya Pradesh) and Barpeta (Assam).

The financial inclusion campaign envisages to provide bank account to every adult under the Prime Minister Jan Dhan Yojna (PMJDY) and insurance/pension schemes for every eligible individual, the statement said. It will also facilitate the coverage of Mudra loan and KCC with focus on farmers engaged in animal husbandry, dairy and fishery activities. There will be focus on Self Help Group members by extending them credit facility, it said.

The camps across the country are scheduled to be held every Saturday as per a pre-approved program. Efforts would also be made to give fillip to enrolment under various social security schemes like Pradhan Mantri Jeevan Jyoti Bima Yojna (PMJJBY), Pradhan Mantri Surakasha Bima Yojna (PMSBY) and Atal Pension Yojna (APY), it said.