Finance Ministry calls bank heads meeting on Tuesday to review financial inclusion schemes

Finance Ministry has called a meeting of bank heads on Tuesday to review progress of several financial inclusion schemes.

Financial Services Secretary Sanjay Lohiya will chair the meeting. Agenda includes reviewing Pradhan Mantri Jan Dhan Yojana, Jan Suraksha, and PM Mudra Yojana.

Ministry will also check saturation drives under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY). PMJJBY gives life insurance cover of ₹2 lakh for people aged 18-50 years. PMSBY gives insurance cover of ₹2 lakh for accidental death or total permanent disability and ₹1 lakh for partial permanent disability for people aged 18-70 years.

Other schemes under review include StandUp India Scheme and PM SVANidhi Scheme. StandUp India encourages bank branches to give loans to SC, ST and women borrowers for setting up greenfield enterprises. PM SVANidhi gives affordable collateral-free loans to street vendors.