M Nagaraju, Secretary, Department of Financial Services (DFS), Ministry of Finance, chaired a review meeting with heads of Public Sector Banks (PSBs) and MD&CEOs & Senior officers of Private Sector Banks, in New Delhi on 15 January 2025. The review meeting was also attended virtually by senior executives of SIDBI, Mudra Ltd, IBA and NCGTC.
During the meeting, Nagaraju reviewed the progress under various Financial Inclusion schemes including Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), Pradhan Mantri Mudra Yojana (PMMY), Stand Up India and PM Vishwakarma.
He also reviewed the progress of opening of brick & mortar branches of banks in unbanked villages and stressed upon augmenting Banking Infrastructure in the country with special focus on North Eastern States.
He also emphasized the need for Banking expansion in far flung areas by resolving the issues of connectivity and infrastructure.
Nagaraju said that significant progress has been made in expanding social security and deepening financial inclusion in the country through various flagship schemes of the Government, and further urged the Public Sector and Private Sector Banks to dedicatedly work towards bringing more and more people in the fold of Financial Inclusion Schemes so as to further strengthen financial inclusion initiatives taken by the Government.
Secretary, DFS also stressed upon extending the loans to SC/STs under Stand-Up India Scheme and achieving the allocated targets under MUDRA scheme.
