DFS Review Meeting on Financial Inclusion Schemes Progress
Secretary of the Department of Financial Services (DFS), Ministry of Finance, Shri Sanjay Lohiya chaired a comprehensive review meeting with heads of all Public Sector Banks and Executive Directors of major Private Sector Banks in New Delhi on October 6, 2026. The meeting was attended by senior DFS officials and focused on evaluating the progress of multiple flagship financial inclusion schemes.
Schemes Under Review
The review covered Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), Pradhan Mantri Mudra Yojana (PMMY), Stand Up India, PM Street Vendor's Atma Nirbhar Nidhi (PM SVANidhi), PM Vishwakarma, PM Surya Ghar, and KCC (Kisan Credit Card). Additionally, the progress of opening brick-and-mortar branches and deployment of Banking Correspondents (BCs) in unbanked villages was assessed.
Digital Transformation Focus
Secretary Lohiya acknowledged significant progress in financial inclusion but urged banks to enhance their digital outreach and implement end-to-end digital processing of loans. Specific emphasis was placed on providing working capital loans through channels like credit lines on UPI and credit cards for micro-enterprises (CCME). Private Sector Banks were specifically urged to increase their participation in financial inclusion schemes.
Insurance Claims and Grievance Management
Banks were directed to increase awareness of claim eligibility under the Jansuraksha insurance schemes (PMJJBY and PMSBY) to ensure nominees receive amounts after the beneficiary's demise. Banks were advised to take specific care while handling grievances related to claims under these schemes. All new beneficiaries of PMJJBY and PMSBY must be enrolled through the Jan Suraksha portal, which will be integrated with all banks and insurers to enhance data quality and operational ease.
Pension Scheme Persistency and Upcoming Campaign
The meeting discussed ways to increase the persistency ratio of the Atal Pension Yojana. Secretary Lohiya announced a forthcoming Financial Inclusion saturation campaign scheduled from October 21, 2026, to December 31, 2026, urging banks to participate wholeheartedly with increased focus on serving marginalized sections of society and fulfilling their banking needs.