DFS Secretary urges private banks to step up support for inclusion push

At a review meet, DFS Secretary M Nagaraju calls on private banks to deepen their role in financial inclusion and ready for the saturation campaign starting 1 July

The Department of Financial Services (DFS) Secretary, M Nagaraju, on Monday urged private sector banks to deepen their participation in financial inclusion initiatives and ensure effective implementation of key government schemes aimed at expanding access to banking services for all.

 

Chairing a high-level review meeting with senior management of private sector banks, Nagaraju assessed the performance of flagship schemes such as 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), and PM Vishwakarma.

 

The meeting was also attended by the Chief Executive Officer of the Indian Banks’ Association (IBA) and senior officials from DFS.

 

 

As part of the government’s broader financial inclusion push, Nagaraju called for the active engagement of banks in the upcoming three-month Financial Inclusion Saturation Campaign, scheduled from 1 July to 30 September 2025. The campaign will cover all Gram Panchayats nationwide and will focus on completing re-KYC for eligible savings accounts, opening new PMJDY accounts, and boosting enrolments under various social security schemes.

 

 

The DFS Secretary also stressed the need for timely settlement of insurance claims under Jan Suraksha schemes and highlighted the importance of augmenting banking infrastructure in rural and North-Eastern regions to ensure last-mile delivery of financial services.