Secretary of the Department of Financial Services (DFS), Sanjay Lohiya, chaired a 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 focused on assessing progress under various Financial Inclusion schemes including 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. The progress of opening brick & mortar branches and deployment of Banking Correspondents (BCs) in unbanked villages was also reviewed.
Lohiya acknowledged significant progress in deepening financial inclusion but urged banks to enhance digital outreach and focus on end-to-end digital processing of loans. He emphasized 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.
Specific directives were given to increase awareness of claim eligibility in Jansuraksha insurance schemes to ensure nominees receive amounts after the beneficiary's demise. Banks were advised to handle grievances related to claims under these schemes with care. 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. The meeting also discussed ways to increase the persistency ratio of the Atal Pension Yojana.
Banks were urged to participate wholeheartedly in the forthcoming Financial Inclusion saturation campaign from October 21 to December 31, 2026, with emphasis on serving marginalized sections of society and fulfilling their banking needs.