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
