Excelsior Correspondent
LEH, Sep 9: Reserve Bank of India, J&K and Ladakh held a meeting with officials of commercial banks here today to sensitize all banks for moving towards 100% digital banking penetration in the UT, providing banking access to every corner and to discuss issues/obstacles hampering the advancement of financial inclusion in the UT of Ladakh.
The meeting was chaired by Kamal P Patnaik, Regional Director, RBI (UTs of J&K and Ladakh). The meeting was also attended by Sandeep Mittal, General Manager and other officials of Reserve Bank of India, in addition to the officials of commercial banks present in Leh.
In the meeting, the Regional Director (RD) advised banks to remain watchful of the evolving situation and continue to make concerted efforts to enhance their foundational digital infrastructure/connectivity for broader access to digital services in future.
He also discussed the major barriers in providing access to affordable and convenient banking products and services in the UT viz. inefficient utilization of Banking Correspondents (BCs) by the banks for last mile delivery, lack of financial literacy programmes conducted by rural branches of banks and Financial Literacy Centres (FLCs) for spreading awareness about various digital banking products, connectivity issues in providing banking access to every village within a 5 km/hamlet of 500 households in hilly areas under National Strategy for Financial Inclusion (NSFI) 2019-24, etc.
Few other issues discussed were progress of banks under Social Security Schemes and all the banks were advised to increase the enrolment to provide a basic bouquet of financial services in the form of insurance, pension and credit.
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