Driving Financial Inclusion: Banks Urged to Broaden Reach

Financial Services Secretary M Nagaraju urged banks to expand financial inclusion, focusing on social security schemes. At a review meeting with senior banking officials, he discussed progress and emphasized loan extension to marginalized communities and improving banking infrastructure in unbanked villages and northeastern regions.

Financial Services Secretary M Nagaraju on Wednesday emphasized the need for banks to enhance their commitment to financial inclusion schemes to support government initiatives further.

In a review meeting with public sector bank heads and private bank officers, Nagaraju discussed the progress of schemes like PMJDY, PMJJBY, PMSBY, APY, PMMY, Stand Up India, and PM Vishwakarma.

He highlighted the need for improved loan access for SC/ST communities and infrastructure expansion in unbanked areas, particularly in northeastern states, to sustain ongoing social security advancements.

(With inputs from agencies.)