PSBs, financial institutions monetise Rs 4.5 crore through scrap disposal

Public sector banks (PSBs) and financial institutions have realised Rs 4.5 crore through scrap disposal during one month-long special campaign with a special focus on minimising pendency and institutionalising Swachhata from October 2-31, 2024.

The Department of Financial Services (DFS) launched Special Campaign 4.0 with special impetus on better space management, customer-centric initiatives, making the environment clean and green, record management and disposal of scrap, an official statement from the finance ministry said.

All the organisations of DFS, PSBs, Public Sector Insurance Companies and other Public Sector Financial Institutions like NABARD, SIDBI, EXIM Bank, NHB, IIFCL etc. actively participated in the Special Campaign 4.0.

The DFS achieved 100 per cent disposal of all identified Public Grievances, Public Appeals, PMO references and MP references, it said.

As much as 11.79 lakh square feet of space has been freed and revenue of Rs 4.50 crore has been earned through scrap disposal, it said, adding that the campaign was conducted in more than 38,500 sites across the country.

During the campaign period, 12 PSBs and 43 Regional Rural Banks organised Pension Grievances Weeks.

In the camps, apart from the grievances registered & redressed, pensioners were also educated regarding the submission of online life certificates and doorstep banking facilities.

In more than 52,208 branches across the country approx. 1.45 lakh pensioners were contacted, it said.

Various videos and static contents were posted on Social media platforms by PSBs and RRBs to spread awareness towards Cyber Security, it said, adding, that safety tips and practices were shared through these educational posts to combat against cyber-related frauds.

With regard to financial literacy, camps were organised in more than 510 locations across the country, 79.97 lakh dormant accounts were activated.

Life Insurance Corporation of India settled 12.77 lakh unclaimed policies and settled claims of more than 10,742 crore, it added.