Finance Ministry directs to increase loan allocation in 112 aspirational districts
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The progress of 112 aspirational districts under the Targeted Financial Inclusion Intervention Program (TFIIP) was discussed during a review meeting of Lead District Managers (LDMs) and State Level Bank Committee (SLBC) Convenors of aspirational districts under the chairmanship of Banking Secretary Vivek Joshi.
The Finance Ministry on Friday directed banks to increase credit allocation to aspirational districts. The ministry also asked the banks to ensure the presence of at least one bank unit within a radius of five kilometers of every village. The progress of 112 aspirational districts under the Targeted Financial Inclusion Intervention Program (TFIIP) was discussed during a review meeting of Lead District Managers (LDMs) and State Level Bank Committee (SLBC) Convenors of aspirational districts under the chairmanship of Banking Secretary Vivek Joshi.
According to an official release, banks were also urged to organize financial education camps with the help of Panchayati Raj Institutions in villages to further improve the performance of financial inclusion schemes. The reward and recognition program for the best performing districts and SLBCs was also discussed. Joshi appreciated the efforts of SLBCs and LDMs in promoting the financial inclusion drive in the country and urged their conveners to work with renewed energy and enthusiasm in the next six months to achieve the goals.
The review meeting was also attended by senior officials from NITI Aayog, Panchayati Raj and Department of Financial Services (DFS), Ministry of Finance. The Aspirational Districts Program (ADP), launched by Prime Minister Narendra Modi in January 2018, aims to bring about a quick and effective transformation in 112 of the most backward districts of the country.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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