Government Convenes High-Level Meet to Review Financial Inclusion Efforts

The Central government has called a high-level meeting to take into account the progress made under its ongoing financial inclusion programmes, reported ANI. The review comes amid increasing thrust on deepening access to banking, credit, and digital services across rural and underserved regions.

As per the report by ANI, the meeting, which is scheduled for June 30, will bring together top policymakers, representatives from public sector banks, financial institutions, and key departments involved in schemes like Jan Dhan Yojana, Direct Benefit Transfers (DBT), and the expansion of digital payment infrastructure. It will be chaired by the Secretary of Financial Services.

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The report also mentioned that the review will assess how effectively various schemes have translated into increased financial access for the “unbanked population” and whether current schemes are reaching the intended beneficiaries.

One of the key focus areas of the meeting is expected to be the performance of PM Jan Dhan accounts, Aadhaar linkage, mobile banking adoption, and the role of business correspondents in last-mile delivery of financial services.

“The agenda focuses on evaluating the implementation and effectiveness of various government initiatives aimed at expanding financial services access across the country. According to the sources, the other related financial inclusion matters may also be discussed during the meeting,” as per ANI report.

The meeting is also expected to look at challenges such as low digital awareness, security concerns, and poor connectivity in some areas. The government considers these issues are seen as hurdles to achieving complete financial inclusion.

Over the last few years, India has made major progress in bringing more people into the formal financial system. However, officials believe more needs to be done to bridge the gap, especially in underserved regions in the hinterland.