‘Banks’ performance dismal in implementing social security schemes’

Dakshina Kannada Zilla Panchayat CEO reviews progress of banks

The performance of banks in the implementation of government’s social security schemes across the district is dissatisfying, Dakshina Kannada Zilla Panchayat (DKZP) Chief Executive Officer (CEO) and District Consultative Committee (DCC) and District Level Review Committee (DLRC) Chairman Dr Kumara said.

He was presiding over the meeting of DCC and DLRC towards reviewing the progress of banks for the second quarter of the financial year 2021-22, at Nethravathi Auditorium on the premises of the ZP office on Wednesday.

He further said, “Each bank branch was given a target to open 10 Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts. Even though there are 619 bank branches in the district, there are only 4,058 PMJDY accounts so far. Many banks including SBI had shown progress of less than 25%, he observed and issued directions to achieve at least 50% progress by April 2022.”

It had been decided to make Dakshina Kannada district as ‘Sampoorna Bima district,’ achieving coverage of maximum eligible people under the insurance schemes of the Central government.

“In order to achieve the same, banks should be proactive in the implementation of Pradhan Mantri Jeevan Jyothi Bima Yojana (PMJJBY), Prime Minister Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY),” he said.

“Currently, only seven lakh people are covered under the PMJJBY and PMSBY insurance schemes even though there are 21 lakh people in the age group 18 to 50 years. A total of 15 lakh people need be covered,” he said.

The chairman said that banks in rural areas should create awareness among socially weaker sections, low income and vulnerable groups to avail the benefit of the schemes. More camps should be conducted by the banks in this regard.

District Lead Bank Manager Pravin M P said that the total business of banks in Dakshina Kannada as of September 30, 2021, was at Rs 88,100.12 crore with a year-on-year growth of 9.32%.

CD ratio during the period was 61.35% showing an increase of 3.31% from the corresponding CD ratio of 58.01%, he said.

Dr Kumara noted that applications by individuals and groups towards loans under various government schemes were kept pending by banks for longer durations.

Language barrier

The Zilla Panchayat CEO said that he has been receiving complaints regarding the lack of knowledge of bank staff in the local language.

He directed the District Lead Bank Manager to ensure that the staff at the help desk of the banks are well versed in the Kannada language.

Reserve Bank of Indian regional office, Bengaluru, Assistant General Manager
G R Acharya said that there is a lack of access and information on schemes aimed at financial inclusion.

Nabard Dakshina Kannada and Udupi Districts Development Officer Sangeetha Kartha and Canara Bank Circle Office Deputy General Manager Srikanth V K were present during the meeting.