Modi’s grand vision of Financial Inclusion
will be officially unveiled on August 15, 2014 by the Prime Minister Narendra
Modi.
The plan is titled as “SAMPOORN
VITTEEYEA SAMAVESHAN”
The highlights of this Comprehensive
Financial Inclusion Plan are as under:
- Providing Basic Banking accounts to all families and to all beneficiaries of Government schemes by March 2016.
- Financial Literacy Programme is to be
given a push and to be extended upto the Block level. It would give
advantage to the Banks to train BCs and FI beneficiaries for ensuring its
deep rooted reach at the grass root level.
- Under SAMPOORN VITTEEYEA SAMAVESHAN (SVS),
the respective Bank accounts will also be ATM enabled.
- Delivery of India’s own indigenous
pre-activated Rupay Card will be an important component of account activation.
- There is a provision of Rs.5000/- as
overdraft facility through debit card to every basic banking account
holder on completion of financial literacy training.
- The suggested remuneration to reach
the BC Agent would be minimum Rs.5000/-.
- Under Urban Financial Inclusion, urban
households are also to be covered. SLBC will arrange allocation of wards
under the Municipality/Municipal Corporation to member Banks.
- Mapping of each district into
Sub-Service Area catering to one thousand five hundred (1500) households
so that every habitation have access to banking services within 5 kms by
September 2015 except hilly ,tribal, forest & desert areas.
As the pace of accounts opening pickups,
transactions too will reflect in the accounts. This would in translate into
volumes for eTransactions.
