State Level Bankers Committee

Banking

There are 276 bank branches of 40 Banking Institutions in the UT, which works out to an average per branch population of 4522. The latest entrant in the fray, Puduvai Bharathiar Regional Rural Bank had opened and commenced operations successful in the UT of Puducherry.

State Level Bankers Committee (SLBC)

The State Level Bankers Committee is convened by lead Bank convenor SLBC UTP to review the performance of the banks under annual credit plans (ACP), Government sponsored schemes, subsidy programmes etc., During the SLBC meeting all the issues pertaining to the Banking Sector of UT of Puducherry will be analyzed. While reviewing some of the banks have performed well in respect of CD ratio, Disbursement of Loans, etc., Low performance banks have been requested to improve the performance in all parameters. NABARD guidelines & RBI guidelines should be followed to achieve the targets.

Direct Benefit Transfer (DBT)

The Director Benefit Transfer Programme was launched in the UT of Puducherry in the year January 2013. Initially DBT was introduced in respect of centrally sponsored / central sector schemes for disbursement of subsidy. Simultaneously, State Government Subsidy schemes also brought under DBT folder. At present more than 100 schemes (CSS + State Schemes) all the benefits have been disbursed through DBT. As a result duplication of beneficiary has drastically come down.

Digital Payment

After demonetization of 500 & 1000 rupees notes as per Govt. of India guidelines, nanks are requested to conduct awareness camps in all Service Area Villages and urban wards to promote cashless transactions among the public. The focus is to be more on BHIM applications. BHIM Aadhaar application, Dyanamic and Static Bharat QR Code promotion. It was monitored by the NITI Aayog, Govt. of India.

Pradhan Mantri Suraksha Bima Yojana

PMSBY will offer a renewable one year, Rupees Two lakhs accident-cum disability cover (Rs.1 lakh for partial permanent disability) to all savings Bank Account Holders in the age group of 18 to 70 years for a premium of Rs.12/- per annum per subscriber to be auto debited from the subscriber’s bank account on enrollment in the scheme. Number of Policies issued as on 31/03/2019 is 227800.

Pradhan Mantri Jeevan Jyoti Bima Yojana

PMJJBY will be one year, renewable from one to one year offering life insurance cover for death due to any reason, a proposed date of commencement of the scheme will be 1st June 2015 and the next annual renewal date shall be 1st June of subsequent years. The premium of the scheme is Rs.330/- per annum and the premium will be deducted from bank account through auto debit facility in one instalment as per the option given on or before 31st May of each annual coverage under the scheme. The Saving Bank account holders of the participating banks aged between 18 years completed and 50 years of age near birthday who have the consent to join/enable auto debit as per the above modality will be enrolled into the scheme. Rs.2 lakhs is payable to subscriber due to death of any reason. Number of Policies issued as on 31/03/2019 is 77,738.

MUDRA

Hon’ble Prime Minister has launched the Micro Units Development and Refinance Agency Limited (MUDRA) on 18th April 2015. MUDRA would partner with Commercial banks/Regional Rural Bank/Non-banking financial companies/co-operative Banks/Micro finance institutions for refinance through Pradhan Mantri MUDRA Yogana, which is aimed to increase the access of small borrowers to credit from formal financial sectors. In lending, priority would be given Scheduled Castes/Scheduled Tribes entrepreneurs. MUDRA will bridge the gap and to a long way in funding the unfunded. A subsidiary company of Small Industries Development Bank of India (SIDBI). Named MUDRA has been incorporated under the Companies Act,2013 to start the refinance operations.

There are three categories of MUDRA Loans under PMMY named “Shishu”, “Kishore” and “Tarun” to signify the stage of growth/development and funding needs of beneficiary micro unit/entrepreneur and also provides a refinance point for the next phase of graduation/growth. The category of sanction under MUDRA as on 31st December 2018 are as follows:

Number of Sanction as on 31/03/2019 is 177772
Sanctioned Amount : 1222.59 Cr.
Disbursed Amount : 755.13 Cr.

Pradhan Mantri Jan Dhan Yojana (PMJDY)

As on 31^st March 2019 – 17 lakhs accounts were opened in various Bank Branches, of which 14.02 lakhs are seeded with Aadhar, 8.45 accounts Aadhaar authenticated. All Households in UT of Puducherry are having tallest one Bank account in the family. 1.48 lakhs accounts are PMJDY accounts. UT of Puducherry has reached saturation.

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