FinMin reviews financial inclusion schemes, urges better banking outreach

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FinMin reviews financial inclusion schemes, urges better banking outreach - Business Standard

Quick Summary:

He highlighted the significant strides made in social security and financial inclusion, urging banks to further extend these initiatives to more individuals.

The PMJJBY has enrolled 216.7 million individuals, with 893,277 claims received and 860,575 disbursed, amounting to ~17,211.50 crore in benefits, demonstrating its extensive life insurance coverage.

The Stand-Up India scheme has sanctioned 252,000 accounts, with 76 per cent of these accounts held by women entrepreneurs, highlighting its focus on empowering women.