Home / Industry / Banking /  Sitharaman directs PSBs to enhance coverage of SCs in all credit schemes

NEW DELHI : Finance minister Nirmala Sitharaman on Tuesday directed the public sector banks (PSBs) chiefs to enhance their coverage of SCs in all schemes and advised bank heads to look into capacity building, entrepreneurship development as SCs constituted about 18% of the total workforce of the banks and FIs. 

Chairing a review meeting on PSBs performance with regard to Credit and other Welfare Schemes for Scheduled Castes, the finance minister directed bank CMDs to fill the small number of remaining backlog vacancies for SCs in a time bound manner.

She also asked banks to make proper digital records for jobs being outsourced, especially for posts like Safai Karamcharis from 1st October.

During the meeting Sitharaman also reviewed the various measures taken by PSBs in giving credit to persons belonging to the SC community and their welfare in terms of reservation, backlog vacancies, functioning of welfare and grievances redressal mechanism etc.

She asked banks to carry out forward and backward linkages through convergence of various schemes of different Government departments for SCs while giving them financial assistance. 

According to a finance ministry statement, the department of financial services (DFS) will launch a special drive from October 2 to see that all pending grievances pertaining to SC community is properly addressed in a time bound manner. 

“Improvements required to be carried out in all the schemes like CEGSSC, VCF etc may be taken up by DFS after discussion with agencies like Dalit Indian Chamber of Commerce and Industry (DICCI) that are working with scheduled castes at the grassroot level," finance ministry said quoting Sitharaman.

The Finance Minister said that the objective of the meeting was to bring all stakeholders on a common platform to work together in fulfilment of the rights enshrined in the Constitution for the upliftment and betterment of the people from the Scheduled Castes.

Sitharaman also observed that performance in schemes like National Rural Livelihood Mission (NRLM) where 21% of the credit linked Self-Help Groups (SHGs) were SCs and in SVANIDHI, 19% of the beneficiaries are SCs, is satisfactory.

According to the Ministry of Finance, the review meeting was attended by Vijay Sampla, Chairman, National Commission for Scheduled Castes (NCSCs); and Members NCSCs, Subhash Ramnath Pardhi and Anju Bala; Ministers of State (MoS) for Finance Pankaj Chaudhary and Bhagwat Kisanrao Karad and Department of Financial Services Secretary Sanjay Malhotra along with senior officials of the DFS and NCSC.

In his address, NCSC Chairman Vijay Sampla urged the bankers to give all the due bank credits to the SCs. He mentioned that the government has initiated a number of Schemes for the benefit of SCs. The bankers should ensure that the benefits of schemes such as National Livelihood Mission, Credit Enhancement Guarantee Scheme for Scheduled Castes, Venture Capital Fund for Scheduled Castes, Self-Employment Scheme for Rehabilitation of Manual Scavengers etc. should reach to the targeted population.

Some of the loan schemes are National Rural Livelihood Mission (NRLM), National Urban Livelihoods Mission (NULM), Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), Education Loan, Credit Enhancement Guarantee Scheme for Scheduled Castes (CEGSSC), and Venture Capital Fund for SCs, among others.

The government has launched various schemes specifically for Scheduled Castes that includes the Stand-Up India Scheme, Credit Enhancement Guarantee Scheme for Scheduled Castes (CEGSSC) and the Venture Capital Fund for Scheduled Castes.

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