In a bid to further deepen financial inclusion (FI) framework, the Ministry of Finance will organize a special campaign from October 15 November 26. It will be initially rolled out at the Gram Panchayat (GP) level in seven districts across India.
They included Cuttack in Odisha, Aurangabad and Pune in Maharashtra, Kakinada in Andhra Pradesh, Kaushambi in Uttar Pradesh, Datia in Madhya Pradesh and Barpeta in Assam.
The campaign will focus on achieving saturation in respect of bank accounts, insurance/pension schemes for eligible individuals, distribution of Loans to Farmer Produce Organisations (FPOs), SHGs for the establishment of Cold-Chain infrastructure.
It will also focus on expanding the coverage of MUDRA & KCC penetration for persons engaged in animal husbandry, dairy & fisheries, bringing self help group (SHG) members within the ambit of FI ecosystem of the country and Mobile/Aadhaar seeding of existing accounts with special focus on making small accounts normal accounts by doing full KYC.
The objective of Financial Inclusion is to extend financial services to the large hitherto un-served population of the country to unlock its growth potential. According to the ministry, the motto of financial inclusion is from Jandhan to Jansuraksha.