Financial Services Secretary Vivek Joshi convened a meeting with CEOs of public sector banks (PSBs) to discuss and review progress on government-led financial inclusion initiatives.
Objective
The meeting aimed to strengthen the last-mile delivery of financial services and enhance customer experience across banking services.
Discussion Points
- Progress of Financial Inclusion Schemes
- Review of schemes such as Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana.
- Assessment of implementation and outreach effectiveness.
- Other Flagship Initiatives
- Evaluation of Stand Up India, PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi), PM Vishwakarma, PM Surya Ghar Yojana.
- Progress in financing initiatives such as ethanol blending in petrol (EBP) and compressed bio gas (CBG).
- Expansion of Banking Services
- Progress review of opening brick and mortar bank branches in unbanked villages.
- Social Security and Financial Inclusion
- Appreciation for achievements in expanding social security through government schemes.
- Technological Integration
- Discussion on issues related to CKYC, Jan Samarth portal, and Aadhaar seeding.
- Presentation by UIDAI on new products benefiting banks through Aadhaar authentication.
Multiple Choice Questions (MCQs):
- What was the primary focus of the meeting convened by Vivek Joshi with PSB CEOs?
- A) Reviewing corporate governance practices
- B) Enhancing financial inclusion initiatives
- C) Discussing international banking regulations
- D) Planning for mergers and acquisitions
- Answer: B) Enhancing financial inclusion initiatives
- Which scheme was NOT specifically mentioned as part of the financial inclusion review?
- A) PMJDY
- B) PMJJBY
- C) PM Kisan Yojana
- D) PMSBY
- Answer: C) PM Kisan Yojana
- Which technological integration initiative was highlighted during the meeting?
- A) GST implementation
- B) Aadhaar seeding
- C) Land record digitization
- D) Railway ticketing system upgrade
- Answer: B) Aadhaar seeding
- What was appreciated by Vivek Joshi regarding the government’s efforts?
- A) Achievements in sports infrastructure
- B) Expansion of educational scholarships
- C) Progress in social security and financial inclusion
- D) Advances in agricultural research
- Answer: C) Progress in social security and financial inclusion
- Which CEO participated in showcasing a new product for Aadhaar authentication?
- A) CEO, NITI Aayog
- B) CEO, UIDAI
- C) CEO, RBI
- D) CEO, SEBI
- Answer: B) CEO, UIDAI