Banks told to expand digital lending, financial inclusion outreach: DFS secretary
Published: Oct 07, 2026
By TIOLCorplaws News Service
NEW DELHI, OCT 07, 2026: THE Secretary, Department of Financial Services (DFS), Ministry of Finance, Sanjay Lohiya chaired a review meeting with heads of all Public Sector Banks (PSBs) and Executive Directors of major Private Sector Banks (PVBs), in New Delhi yesterday. The review meeting was also attended by senior officials of Department of Financial Services.
During the meeting, a detailed review of the progress under various Financial Inclusion schemes including Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension Yojana (APY), Pradhan Mantri Mudra Yojana (PMMY), Stand Up India, PM Street Vendor's Atma Nirbhar Nidhi (PM SVANidhi), PM Vishwakarma, PM Surya Ghar, KCC, etc. was undertaken. The progress of opening of brick & mortar branches of banks and deployment of BCs in unbanked villages was also reviewed.
Secretary, DFS, Sanjay Lohiya said that while significant progress has been made in deepening financial inclusion in the country through various flagship schemes of the Government, banks should make efforts for further enhancing their digital outreach and focus on end-to end digital processing of loans. Providing working capital loans through channels like credit lines on UPI and credit cards for micro-enterprises (CCME) was also explained. He discussed in detail the progress made by banks under Financial Inclusion. He urged the Private Sector Banks to increase their participation in financial inclusion schemes.
During the meeting, Secretary DFS, Sanjay Lohiya directed the banks to increase awareness of claim eligibility in Jansuraksha insurance schemes so that the nominees receive the amount after the unfortunate demise of the beneficiary. Banks were also advised to take specific care while handling grievances related to claims under these schemes. He also asked banks to enrol all new beneficiaries of PMJJBY & PMSBY through the Jan Suraksha portal as the portal will be integrated with all banks and insurers thereby enhancing the quality of data and ease of operations. During the meeting, ways to increase the persistency ratio of the Atal pension yojana were also discussed.
Lohiya urged banks to participate whole heartedly in the forth- coming FI saturation campaign from 21.10.2026 to 31.12.2026 and give more thrust on serving the marginalized sections of the society and fulfilling their banking needs.
