J&K: LG Murmu Launches Financial Inclusion Outreach Campaign To Extend Banking Services To Eligible Beneficiaries

Jammu and Kashmir (J&K) Lieutenant Governor (LG) Girish Chandra Murmu on Tuesday (11 February) launched the financial inclusion outreach campaign with special focus on extending banking services to all unbanked areas and opening of bank accounts for unbanked adults under Pradhan Mantri Jan Dhan Yojana (PMJDY).

The campaign also focuses on enrolments under PMSBY and PMJJBY, outreach for Mudra Yojna, housing loans, other retail loans, credit linkage with self help groups (SHGs), RSETIs and other skilling centres in J&K and issuance of Kisan Credit Cards (KCCs) to all eligible beneficiaries.

During his address, LG Murmu said that promoting financial inclusion means taking actions which result in expanding people's access to the services offered by the formal financial sector. He said the issue of promoting the inclusion of people's economic activity into the financial system has profound consequences.

Empowerment of people should not be restricted to political and social aspects, but should also transcend to the economic aspect, the LG said.

"There are five main factors that go behind the conceptualisation of financial inclusion which are financial empowerment of every citizen, formalising the economy, enhancing national productivity, bringing in transparency and optimisation of national resources. There is a dire need to push this greater social cause by all the stake holders and there is great responsibility on our shoulders," LG Murmu said.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)