More incentives to states for widening financial inclusion

The pilot scheme for Direct Benefit Transfer is being carried out in 121 districts

The Centre intends to provide more incentives to states which are doing good work in the area of financial inclusion, a senior Finance ministry official has said.
     
"More benefits will be given to the states doing good work, in which also Madhya Pradesh will be a pioneer," a statement issued by Madhya Pradesh government said, quoting Additional Secretary in Union Finance Ministry, Snehlata Shrivastava.
    
Expansion of banking service is not a favour to the people but is giving them their right, she said at a function in Bhopal last week.
    

The pilot scheme for Direct Benefit Transfer (DBT) is being carried out in 121 districts. The programme was rolled out in 43 districts from January 1.

    
The DBT programme has covered over 2.8 million LPG transactions valued at Rs 116 crore since its launch on June 1, 2013 in 20 districts.
    
Meanwhile, Finance Ministry has asked banks to approach customers for submission of Aadhaar numbers to ensure seamless transfer of cash benefit.
    
Linking or seeding of Aadhaar number with the bank account of beneficiary is necessary to ensure seamless transfer of cash benefit relating to various government scheme like LPG subsidy, scholarships and pension.