Banks will carry out enrolments, account updates and financial awareness campaigns across gram panchayats and urban local bodies from 21 October to 31 December.
India’s Finance Ministry is preparing a nationwide push to widen access to formal financial services, with banks set to fan out across gram panchayats and urban local bodies from October 21 to December 31, according to a ministry statement issued on Monday. The drive will cover 2.70 lakh local bodies and is aimed at bringing more people into the financial system through enrolments, account updates and awareness campaigns.
The Department of Financial Services will use the campaign to expand subscriptions to the Pradhan Mantri Jeevan Jyoti Bima Yojana, the Pradhan Mantri Suraksha Bima Yojana and the Atal Pension Yojana, while also pushing Aadhaar seeding for insurance schemes, opening Pradhan Mantri Jan Dhan Yojana accounts and completing re-KYC, or updated know-your-customer checks, for existing accounts. Officials will also work on generating Central KYC identifiers where these are still pending, updating nominations on savings accounts and lockers, and running sessions on financial literacy, digital fraud and unclaimed assets under the “Aapki Poonji, Aapka Adhikar” initiative.
The campaign will also support the filing of Kisan Credit Card applications for eligible Pradhan Mantri-Kisan beneficiaries and promote enrolment under the Pradhan Mantri Fasal Bima Yojana ahead of the Rabi season. According to the ministry, the effort is intended to strengthen last-mile delivery and deepen inclusion by nudging households into the formal banking system.
A preparatory meeting with senior bank officials and representatives of the State Level Bankers’ Committee has already been held under the chairmanship of the Joint Secretary for Financial Inclusion, the statement said. Progress will be tracked by state authorities, banks and the department as the campaign unfolds.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
