Through
its Major Schemes, Department of Financial Services is
ensuring
financial inclusion, providing social security to the people
as well as
providing credit to various sections of the society. The
major
achievements of various schemes under the Department are
highlighted
below.
1.
Pradhan Mantri Jan Dhan Yojana (PMJDY)
The
deposit base of PMJDY accounts has expanded over time. As on
05.04.2017, the deposit balance in PMJDY accounts was Rs.
63,971 crore
in 28.23 crore accounts. The average deposit per account has
more than
doubled from Rs. 1,064 in March 2015 to Rs. 2,235 in March
2017. 22.14
crore RuPay cards have been issued under PMJDY.
The Bank Mitra
network has also gained in strength and usage. The average
number of
transactions per Bank Mitra, on the Aadhaar Enabled Payment
System
operated by Bank Mitras, has risen by over eightyfold, from
52
transactions in 2014-15 to 4,291 transactions in 2016-17.
2.
Pradhan Mantri Jeevan Jyoti Bima Yojana
(PMJJBY)
As
on 12th April, 2017, Cumulative Gross enrolment
reported by Banks
subject to verification of eligibility, etc. is about 3.1
Crore under
PMJJBY. A total of 63291 claims were registered under PMJJBY
of which
59770 have been disbursed.
3.
Pradhan Mantri Suraksha Bima Yojana (PMSBY)
As
on 12th April, 2017, Cumulative Gross enrolment
reported by Banks
subject to verification of eligibility, etc. is about 10
Crore under
PMSBY. A total of 12816 claims were registered under
PMSBY of which
9646 have been disbursed.
4.
Atal Pension Yojana (APY)
As
on 31st March, 2017, a total of 48.54 lakh subscribers
have been
enrolled under APY with a total pension wealth of Rs.
1,756.48 crore.
5.
Pradhan Mantri Mudra
Yojana
Under
the scheme a loan of upto Rs. 50000 is given under sub-
scheme 'Shishu';
between Rs. 50,000 to 5.0 Lakhs under sub-scheme 'Kishore';
and between
5.0 Lakhs to 10.0 Lakhs under sub-scheme 'Tarun'.
As per latest
data, loans extended under the Pradhan Mantri Mudra Yojana
(PMMY) during
2016-17 have crossed the target of Rs. 1,80,000 crore for
2016-17.
Sanctions currently stand at Rs. 1,80,528 crore. Of this
amount, about
Rs. 1,23,000 crore was lent by banks while non-banking
institutions lent
about Rs. 57,000 crore.
Data compiled so far indicates that the
number of borrowers this year were about 4 crore, of which
over 70% were
women borrowers. About 18% of the borrowers were from the
Scheduled
Caste Category, 4.5% from the Scheduled Tribe Category, while
Other
Backward Classes accounted for almost 34% of the
borrowers.
6.
Stand Up India Scheme
The
Scheme facilitates bank loans between Rs.10 lakh and Rs.1
crore to at
least one Scheduled Caste/ Scheduled Tribe borrower and at
least one
Woman borrower per bank branch for setting up greenfield
enterprises.
This enterprise may be in manufacturing, services or the
trading sector.
As
on 11th April, 2017, Rs 5807.7 crore has been
sanctioned in 28444
accounts. Of these, women hold 22708 accounts with sanctioned
loan of Rs
4740.11 crore, Scheduled Caste persons hold 4487 accounts
with
sanctioned amount of Rs 825.17 crore while Scheduled Tribe
persons hold
1249 accounts with a sanctioned amount of Rs. 242.43
crore.
7.
Varishtha Pension Bima Yojana (VPBY)
The
revived Varishtha Pension Bima Yojana (VPBY) was formally
launched by
the Finance Minister on 14.08.2014 based on the budget
announcement made
during 2014-15 and has been opened during the window
stretching from
15th August, 2014 to 14th August, 2015. Thus all
those who subscribe to
the VPBY during this period will receive an assured
guaranteed return of
9% under the policy. As per LIC, a total number of 3,23,128
policies
with corpus amount of Rs. 9073.20 crore have been subscribed
to the
Scheme.
8.
Other Initiatives
The Government of India in the Interim Budget of FY 2014-15,
announced the setting up of
Venture Capital Fund for
Scheduled Castesunder
the head Social Sector Initiatives in order to promote
entrepreneurship among the Scheduled Castes (SC). The
scheme is
operational since 16.01.2015 with a present corpus of Rs.
290.01 crore
contributed by Ministry of Social Justice and Empowerment,
Govt. of
India (Rs. 240.01 crore) and IFCI Ltd. as sponsor and
investor (Rs. 50
crore). As of 15.03.2017, IFCI Venture Capital Fund
Ltd. has sanctioned
and disbursed Rs. 236.66 crore and Rs. 109.68 crore to 65
and 32
beneficiaries, respectively under the scheme since launch of
the scheme.
The
Credit Enhancement Guarantee Scheme (CEGS) for
Scheduled Castes (SCs) was
announced by Govt. of India in the Union Budget of 2014-15
wherein a
sum of Rs.200 crore was allocated towards credit facility
cover for
young and energetic start-up entrepreneurs, belonging to SCs,
who aspire
to be part of neo middle class category with an objective to
encourage
entrepreneurship in the lower strata of the society resulting
in job
creation besides creating confidence in SCs.
Banks have undertaken
Financial
Literacy programmes
through 718 Financial Literacy and Credit Counselling
Centres (FLCCs). A
total of 17,422 skilling centres have been mapped with
branches and
literacy centres, and financial literacy imparted to 7 lakh
students.
The literacy materials have been developed in regional
languages and
disseminated.
Card acceptance infrastructure:
To augment card acceptance infrastructure for use of debit
cards, a
major drive was undertaken between December 2016 and March
2017,
resulting in an increase in the number of Point of Sale (PoS)
terminals
by an additional 12.54 lakh, up from 15.19 lakh as on
30.11.2016.
Further, to improve such infrastructure in villages, 2.04
lakh PoS
terminals have been sanctioned from the
Financial
Inclusion Fund by NABARD.
PIB
