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DFS Secretary Reviews Flagship Schemes, Pushes Digital Banking, Rural Coverage and Greater Private Bank Participation
Pooja Srivastava
Anytime News Network
Financial inclusion is now facing a renewed ground-level push as Secretary, Department of Financial Services (DFS), Sanjay Lohiya, chaired a review meeting with heads of all Public Sector Banks and Executive Directors of major Private Sector Banks.
The meeting reviewed progress under several flagship schemes, including Pradhan Mantri Jan Dhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana, Atal Pension Yojana and Pradhan Mantri Mudra Yojana. Financing under Kisan Credit Card, PM SVANidhi, PM Vishwakarma and PM Surya Ghar Muft Bijlee Yojana was also reviewed.
Digital Push
Banks were directed to strengthen their digital capabilities and enable end-to-end digital processes. Expanding working capital through Credit Lines on UPI and improving performance under Credit Cards for Micro-Enterprises were also identified as key priorities.
The emphasis reflects a wider challenge: digital banking must translate into easier and more accessible credit for small businesses and underserved customers.
Villages Still Need Access
The review also focused on physical banking infrastructure. Banks were asked to ensure completion of brick-and-mortar branches in identified villages and achieve 100 percent Business Correspondent coverage in unbanked villages.
Private Sector Banks were specifically encouraged to increase their participation in financial inclusion schemes.
Insurance Claims Under Scrutiny
Banks were asked to create greater awareness about benefits available under the Jan Suraksha insurance schemes, ensure smooth payouts and handle grievances with greater sensitivity.
The Jan Suraksha Portal is to be leveraged by all banks for timely and accurate reporting of beneficiary additions and processing of insurance claims.
Saturation Campaign Ahead
The DFS Secretary urged banks to participate wholeheartedly in the upcoming FI Saturation Campaign, scheduled from October 21 to December 31, 2026.
The campaign will place greater emphasis on marginalised sections and their banking requirements.
The review has placed a clear responsibility before the banking system: financial inclusion cannot remain confined to enrolment figures. Its real measure will be whether banking, credit, insurance and financial services actually reach the people and villages that remain at the margins of the formal financial system.
