Rashtrapati Bhavan – India’s first Financially Inclusive Township (FIT)

            Around 500 people reside in India’s President’s Estate i.e Rashtrapati Bhavan. To raise the bar of financial inclusion in our country, Rashtrapati Bhavan today launched a new campaign to turn the RP into a Financially Inclusive Township (FIT)

What are the components of a Financially Inclusive Township (FIT)?

01) All the residents have an operative bank account

02)The residents are aware of the various financial tools

03)The residents are aware of Safe eBanking procedures

The campaign’s target is complete the financial inclusion of all residents and contractual workers of the President’s Estate numbering around 5000 by middle of December.

The campaign will include:-

01) A financial literacy programme and creation of a financial literacy hub at the Dr. Rajendra Prasad Sarvodaya Vidyalaya within Rashtrapati Bhavan for the students, their families as well as all residents of the President’s Estate.

02)Enrolling all residents in UIDAI’s Aadhar scheme.

03)Opening of Saving Bank Accounts for the unbanked under the Pradhanmantri Jan Dhan Yojana.

04)Enrolment of people in ‘Swavalamban’, - a special scheme of the Pension Fund Regulatory and Development Authority for those belonging to the unorganized sector.

05)Issue of RuPay Cards to new as well as existing account holders of the United Bank of India within the Estate.

This pilot project is intended to establish a model of convergence in government programmes and services to ensure that benefits of various schemes accrue to all residents of the President’s Estate.

Special attention will be given to senior citizens, women, and special children in the President’s Estate.

Not only regular residents, but the contractual workers working in the President’s Estate will also be guided to obtain all possible benefits that are due to them.

In the near future, residents of the President’s Estate will also be provided benefits under the Rashtriya Swasthya Bima Yojana (RSBY) and pension benefits to young widows, disabled etc.

A two day financial literacy-cum-inclusion camp for residents of the President’s Estate was inaugurated today (September 27, 2014) by Secretary to the President Mrs. Omita Paul to mark launch of the campaign.

Rashtrapati Bhavan Officials in collaboration with officials of the United Bank of India, National Payment Corporation of India (NPCI), Pension Fund Regulatory and Development Authority (PFRDA) and SBI worked through the day to enrol residents of the President’s Estate in various schemes.

As United Bank of India, has a branch in the President’s Estate, the honor of playing a pivotal role in the FIT plan was bestowed  on them.

The President’s Estate Branch of United Bank of India was established on February 28, 1976 and inaugurated by the then President of India, Late Dr. Fakhruddin Ali Ahmed

The President of India, Shri Pranab Mukherjee inaugurated the President’s Estate Branch of United Bank of India and Rashtrapati Bhavan Post Office in their new buildings on July 24, 2014.