Chief Secretary pushes for swift claim settlements, financial inclusion of all in J&K

SRINAGAR: Chief Secretary, Atal Dulloo, today chaired a comprehensive review meeting to assess the implementation status of various financial inclusion and social security schemes of the Government of India being executed through banks and financial institutions in J&K.
Besides Principal Secretary, APD and Principal Secretary, Finance Departments, the meeting was attended by MD, J&K Bank; Commissioner Secretary, Social Welfare; Commissioner Secretary, Tourism; Secretary, Revenue; Secretary, RDD; MD, JKRLM; Convenor, UTLBC; representatives from NABARD, SIDBI and other banks operating here.
The meeting focused on the progress under major schemes including Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Atal Pension Yojana (APY), saturation of unbanked rural areas, priority sector lending, credit flow to MSMEs, agriculture sector initiatives including Kisan Credit Cards (KCC), and skilling interventions undertaken through Rural Self Employment Training Institutes (RSETIs) established in the UT.

While reviewing the current status of population coverage under these schemes, the Chief Secretary also took stock of the compliance on earlier directions issued to financial institutions. He directed the concerned agencies to ensure saturation of all identified unbanked rural centres before the stipulated deadline of June this year.

Stressing on the need for prompt and efficient claim settlements, Dulloo observed that the success of these social security schemes should be judged not merely by the number of beneficiaries enrolled, but also by the speed and effectiveness of claim settlements.

He emphasized that financial institutions must instill confidence in public by providing full assistance in processing and settling their genuine claims, and proactively reaching out to families, especially in case of the death of insured members, to ensure timely support.

To ensure the schemes reach the most deserving, the Chief Secretary directed for the inclusion of Self Help Group (SHG) members registered with JKRLM and their families under all applicable social security schemes. He also instructed for coverage of registered building and construction workers under Atal Pension Yojana, with the premium to be borne by the Building and Other Construction Workers Welfare Board here.

Dulloo also called for formulation of a focused strategy to enhance credit flow under the priority and MSME sectors, ensuring that all banks meet the targets assigned to them. He also enquired about the progress in rolling out the ‘Gramin Credit Score’ system for agricultural lending on the lines of the CIBIL score used for individual borrowers.

The Chief Secretary also reviewed IT-enabled financial interventions such as the distribution of RuPay Debit Cards under PMJDY and Smart Cards for KCC beneficiaries. He assessed progress made in designing loan products to promote High-Density Plantation, rural homestays, and properties identified under the Svamitva Yojana.

Further, he sought an update on the Credit Grievance Redressal Portal, being developed for the convenience of all bank customers in the UT. He was informed that the portal is ready for launch and will soon be made operational to facilitate efficient resolution of customer grievances.