Finance ministry to meet heads of public sector banks on Thursday; to review progress of various schemes

The finance ministry has referred to as a gathering of heads of public sector banks and monetary establishments to evaluate the progress of assorted social sector schemes, together with Jan Dhan, Mudra, KCC, and PM SVANidhi. The assembly with managing director and CEOs of public sector banks is scheduled to be held on January 19 and largely for reviewing the schemes to advertise monetary inclusion, sources stated.

The saturation below Pradhan Mantri Jan Dhan Yojana (PMJDY) can be reviewed within the assembly to be chaired by Monetary Companies Secretary Vivek Joshi.

In addition to, progress in Prime Minister Road Distributors’ AtmaNirbhar Nidhi (PM SVANidhi) scheme will probably be reviewed. The federal government has prolonged the scheme until December 2024.

PM SVANidhi scheme was launched on June 1, 2020 by the ministry of housing and concrete affairs to assist road distributors, who had been impacted by the coronavirus pandemic, resume their livelihood actions. The scheme goals to offer working capital loans as much as Rs 10,000 at a subsidised charge of curiosity.

Sources additionally stated that the targets and achievements of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana may also be reviewed.

Final yr, the federal government had raised the premium for its flagship insurance coverage schemes — PMJJBY and PMSBY — with a view to make them economically viable.

The premium charge of PMJJBY has been revised upward to Rs 1.25 per day, translating into a rise from Rs 330 to Rs 436 yearly. The annual premium for PMSBY has been hiked from Rs 12 to Rs 20. As well as, there can be critiques of Mudra Yojana and Get up India scheme.

Launched in 2015, the Pradhan Mantri Mudra Yojana (PMMY) goals to offer loans as much as Rs 10 lakh to non-corporate, non-farm small/micro enterprises.

Sources stated the assembly may also focus on the Kisan Credit score Card (KCC) given to beneficiaries.

To allow common entry to concessional institutional credit score, the federal government had initiated a drive in mission mode for saturating all PM-KISAN beneficiaries with KCC.