• Source:PTI
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The Finance Ministry has called a meeting of the heads of public sector banks (PSBs) on Tuesday to review the progress of various financial inclusion schemes, including PM Vishwakarma, Jan Suraksha, and Mudra Yojana. The meeting will be chaired by Financial Services Minister Vivek Joshi. According to sources, the meeting will review the progress of various flagship schemes, including PM Vishwakarma, StandUp India, and PM SVANidhi, among others. Sources said that the meeting will also discuss other issues related to financial inclusion.

Prime Minister Narendra Modi launched the PM Vishwakarma Scheme in September last year, under which loan assistance will be provided to traditional artisans and craftsmen at a minimum interest rate without the need for collateral. With a financial outlay of Rs 13,000 crore for five years, the scheme will benefit around 30 lakh families of traditional artisans and craftsmen, including weavers, goldsmiths, blacksmiths, laundry workers, and barbers.

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Besides, sources said, the objectives of the Prime Minister Jandhan Yojana will be reviewed. The status of non-functioning accounts under PMJDY and issuance of RuPay cards will also be reviewed, sources said.

The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) provides life insurance cover of Rs 2 lakh in the event of death due to any reason to people in the age group of 18 to 50 years who have a bank or post office account and who give their consent to join or enable automatic premium deduction.

On the other hand, the Pradhan Mantri Suraksha Bima Yojana (PMSBY) provides an insurance cover of Rs 2 lakh for accidental death or total permanent disability and Rs 1 lakh for partial permanent disability to people between the ages of 18-70 years with a bank or post office account, who give their consent to join or enable automatic deduction of premiums.

To promote entrepreneurship at the grassroots level, banks have sanctioned over Rs 40,700 crore to over 1.80 lakh beneficiaries under the StandUp India program in seven years.

The StandUp India program, which was launched on April 5, 2016, with a focus on economic empowerment and job creation, has been extended till 2025. The program aims to encourage all bank branches to extend loans to borrowers belonging to SC, ST, and women categories in preparation for their green ventures. Private.

Last year, the government approved the continuation of the Prime Minister's AtmaNirbhar Nidhi (PM SVANidhi) Street Vendor Scheme till December 2024. The government launched the program in June 2020 as a micro-credit facility to enable street vendors to recover losses incurred as a result of the Covid-19 pandemic. Through PM SVANidhi, affordable loans without collateral are being given to street vendors.

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(With PTI's Input)