Banks told to expand digital lending, financial inclusion outreach: DFS secretary
New Delhi, Oct. 6 -- The Centre is pushing banks to move financial inclusion beyond opening accounts, asking them to expand digital outreach, process loans end-to-end online and widen access to credit for micro-enterprises.
Department of financial services (DFS) secretary Sanjay Lohiya gave the instructions on Tuesday at a review meeting with the heads of public-sector banks and executive directors of major private-sector banks in New Delhi, according to a finance ministry statement.
The meeting reviewed progress under several financial inclusion schemes, including the Pradhan Mantri Jan Dhan Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana and Pradhan Mantri Mudr...
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