Government Tells Public Sector Banks To Improve Outreach, Customer Service
Banks were urged to complete FY23 targets under various social security schemes and organise financial literacy camps.
Public sector banks were asked to achieve targets allocated under various social security schemes and ramp up its customer service at the review meeting by the Department of Financial Services.
At the full-day meeting held on Thursday and chaired by DFS Secretary Vivek Johri, banks were urged to complete FY23 targets under various government social security schemes and organise more financial literacy camps to generate awareness on flagship schemes, micro insurance schemes and digital financial transactions—including UPI Lite.
"It was appreciated that ease of access to banking services has been strengthened in the last 7-8 years... Banks need to put in all-out efforts to make customer experience more enriching and pleasant for sustainable banking relationship," a press release said.
To aid the process, the Indian Banks’ Association was asked to expedite its work on a Consumer Service Rating for all Scheduled Commercial Banks.
The government also highlighted the progress of the Kisan Credit Card facility. PSBs were asked to use the PM Kisan database in outreach efforts farmers across the country. PM Kisan is a cash support scheme that provides income support of Rs 6,000 annually via direct benefit transfer in three instalments to eligible landholding farmer families.
The progress on the digitisation of the process of getting a KCC, the digital journey of KCC loans and the KCC-Modified interest Subvention Scheme was also discussed.
Banks were told to start using the portal for their claims from FY22 onwards, the release said.
Officials from the Department of Agriculture and Farmers’ Welfare, Ministry of Corporate Affairs, and Insolvency and Bankruptcy Board of India were also present in the review.
The progress of the Agriculture Infrastructure Fund scheme, along with the amendments proposed in Insolvency and Bankruptcy Code, with regard to reducing delays in the processes relating to admission and resolution were among the topics reviewed.
The National Company Law Tribunal’s approval and liquidation were also discussed.