DFS Secretary asks banks to raise credit penetration in aspirational districts

With a view to increase credit penetration in aspirational districts, Secretary, Department of Financial Services Vivek Joshi chaired a review meeting on Friday with Lead District Managers (LDMs) of these districts and State Level Bankers’ Committee (SLBC) convenors.

During the meeting, the progress of 112 Aspirational Districts under Targeted Financial Inclusion Intervention Programme (TFIIP) was discussed in detail. The progress of 10 selected districts under Utkarsh programme was also reviewed.

The review meeting was also attended by senior officials of NITI Aayog, Panchayati Raj, and DFS.

Joshi appreciated the efforts of SLBCs and LDMs in furthering the drive of financial inclusion in the country and requested LDMs and SLBC convenors to utilise the next six months with renewed vigor and zeal to achieve the set milestones.

Officials said that during the review meeting, it was impressed upon the banks to work on further increasing credit penetration in these districts and ensure availability of at least one banking outlet within 5 km of all inhabited villages.

Moreover, banks were also requested to run financial literacy camps in villages with the help of Panchayati Raj institutions to further improve the performance of financial inclusion schemes. A reward and recognition program for performing districts and SLBCs was also discussed, said officials.

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