Finance ministry asks pvt banks to increase their participation in implementation of govt schemes

New Delhi, Jun 30 (PTI) The finance ministry directed private sector banks on Monday to increase their participation in the implementation of government schemes.

The direction was given by Department of Financial Services Secretary M Nagaraju during a meeting to review the progress and performance of various financial-inclusion (FI) schemes, including the PMJDY, PMJJBY, PMSBY, APY PMMY and PM Vishwakarma, with the senior management of private sector banks.

The meeting chaired by the secretary was also attended by the IBA CEO and senior officials of the department.

"Secretary directed private sector banks to increase their participation in implementation of govt schemes. He stressed upon fast settlement of the claims under Jansuraksha schemes, augmentation of banking infrastructure in rural areas and North-eastern region of the country," the ministry said in a post on X.

The banks were urged to actively engage and extend support for the three-month FI-saturation campaign (from July 1 to September 30) across all gram panchayats, it added.

Key focuses include Re-KYC for the eligible savings accounts, opening PMJDY accounts and enrolments under FI schemes, the ministry said. PTI DP RC