Bom Fip.docx

SWABHIMAN – State Financial Inclusion Plan – Maharashtra Introduction : Swabhiman is path-breaking initiative by Govt of India and banks in state to cover the economic distance between rural and urban India. It promises to bring basic banking services to all unbanked villages in the country with population above 2000. The swabhiman movement facilitate opening of bank accounts, provide need based credit, remittance facilities and help to promote financial literacy in rural India using various models and technologies including branchless banking models through Business correspondents. The Bank-wise summary of number of identified villages having population above 2000 for providing banking services are as under: A.] Public Sector Banks Sr. No. Name of the No. of Sr. No. Name of the No. of Bank unbanked Bank unbanked villages villages 1. Allahabad Bank 33 11. Indian 21 Overseas BK 2. Andhra Bank 01 12. OrientalBkof 06 Commer 3. Bank of Baroda 176 13. Punjab 26 National Bank 4. Bank of India 506 14. State Bank of 215 Hyderabad 5. Bank of 853 15. State Bank of 855 Maharashtra India 6. Canara Bank 40 16. Syndicate Bank 50 7. Central Bank of 436 17. Union Bank of 189 India India 8. Corporation 03 18. UCO Bank 23 Bank 9. Dena Bank 158 19. Vijaya Bank 03 10. Indian Bank 11 20 IDBI 82 Total (1 to 11) 2217 Total (12 to 20) 1470 Total villages for Public Sector Banks 3687 B.] Regional Rural Banks Sr. No. Name of the No. of Bank unbanked villages 1. Maharashtra 355 Gramin Bank 2. Vidarbh 63 Kshetriya Gramin Bank 3. Wainganga 92 Krishna Gramin Bank Total villages for RRBs 510

C.] Private Sector Banks Sr. No. Name of the Bank 1.

HDFC

No. of unbanked villages 01

2.

ICICI Bank

72

Total (1 to 2) 73 Total villages for Private Sector Banks Summary of allocation to Banks S.No. Particulars 1 2 3 Total:

Public Sector Banks Regional Rural Banks Private Sector Banks 4292

Sr. No.

Name of the Bank

4.

Ratnakar Bank 5. Karnataka Bank Ltd. Total (4 to 5) 22 95

No. of unbanked villages 21 01

No. of unbanked villages 3687

% to total villages

510

11.88

95

02.22

85.90

100.00

Pradhan Mantri Jan Dhan Yojana (PMJDY) The Hon’ble Prime Minister in his Independence Day Speech on 15th August, 2014 announced a comprehensive program of Financial Inclusion targeting the large number of people who are currently deprived of even rudimentary financial services. The Pradhan Mantri Jan Dhan Yojana (PMJDY) sets out to provide a basic Bank account to every family who till now had no account. The bank account comes with a RuPay debit card with a built-in accidental cover of Rs 1 lakh. Basic Eligibility Conditions i. Person opening Bank account for the first time, with RuPay Card in addition, during the period from 15-08-14 to 26-01-15, or any additional period as may be extended further by Government of India. ii. The person should normally be head of the family or an earning member of the family and should be in the age group of 18 to 59 (i.e. person should be at least 18 years old, and should not have turned 60). In case the head of family is 60 years or more of age, the second earning person of the family in the above mentioned age group will be covered, subject to eligibility.

iii. Person must have a RuPay Card and Bio – Metric Card linked to bank account or in process of being linked to bank account if not already there. iv. The account can be any bank account including a small account. v. For the coverage to be effective the above RuPay Card should be valid and in force. vi. Only one person in the family will be covered in the Bima Scheme and in case of the person having multiple cards / accounts the benefit will be allowed only under one card i.e. one person per family will get a single cover of Rs.30,000/-, subject to the eligibility conditions. vii. The life cover of Rs 30,000/- under the scheme will be initially for a period of 5 years, i.e. till the close of financial year 2019-20. Thereafter, the scheme will be reviewed and terms and condition of its continuation, including the issue of future payment of premium by the insured thereafter, would be suitably determined. Pradhanmantri Suraksha Beema Yojana: Pradhanmantri Jeevan jyoti bema yojana: