Showing posts with label PSB. Show all posts
Showing posts with label PSB. Show all posts
he government has asked public sector banks (PSBs) to review the level of activity in rural accounts which were opened under financial inclusion drive. The finance ministry has asked the state-owned banks to ensure one account per family in the country to facilitate direct transfer of subsidy under 32 central schemes.
AIR correspondent reports that with an aim at financial inclusion, 'Swabhimaan' campaign was launched in 2010-11 to extend banking facilities in unbanked villages with a population of over 2,000 and over 74,000 such villages were covered.
The latest data says, under the campaign, over 3.25 crore bank accounts in rural areas were opened. Banks have also been asked to establish an 'Ultra Small Branch' in each such village with a bank official visiting them at least once a week.
As per 2011 census, about 58.7 per cent households had reported availing of banking facilities. Out of the 24.69 crore households, 14.48 crore reported availing banking services. Nearly 10 crore households were not availing the services.
AIR correspondent reports that with an aim at financial inclusion, 'Swabhimaan' campaign was launched in 2010-11 to extend banking facilities in unbanked villages with a population of over 2,000 and over 74,000 such villages were covered.
The latest data says, under the campaign, over 3.25 crore bank accounts in rural areas were opened. Banks have also been asked to establish an 'Ultra Small Branch' in each such village with a bank official visiting them at least once a week.
As per 2011 census, about 58.7 per cent households had reported availing of banking facilities. Out of the 24.69 crore households, 14.48 crore reported availing banking services. Nearly 10 crore households were not availing the services.
Labels: finacial inclusion, PSB
The Finance Ministry has asked public sector banks not to accept bulk deposits beyond 15 per cent of total deposits to improve asset-liability management. This was informed by the Secretary Department of Banking and Financial Services D K Mittal on the sidelines of a meeting of the Federation of Indian Export Organisations in New Delhi today. Mr Mittal said the Finance Ministry has recently issued a circular to the banks in this regard.
Mr Mittal called upon exporters to desist from devaluing the domestic currency by trading in foreign currency, which creates problems for the government. He said exporters should focus on exporting goods and services rather than worrying about the fluctuations in the Rupee. On the export credit issue, the Secretary said, the government is committed to promoting exports. He said the issues raised by exporters require consultations with the RBI and the Commerce Ministry.
Commenting on the issue of HSBC bank’s Indian staff coming under the scanner of a US probe into money laundering, Mr Mittal said the RBI is looking into it. He said the finance ministry would assist the central bank with the required inputs
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