Stories
Banks Mandated to Include SC Beneficiary Data in Reports After NCSC Intervention
- •The Department of Financial Services directed state and union territory-level bankers committees to mandatorily report SC beneficiary data under major government schemes.
- •The directive follows an intervention by the National Commission for Scheduled Castes pointing out that absence of such data hindered its constitutional mandate.
- •Banks must include scheme-wise and bank-wise details for initiatives like Pradhan Mantri Mudra Yojana, Stand-Up India, and PMEGP in periodic reviews.
- •The reporting will utilize existing data to ensure consistency and avoid parallel reporting requirements, with an initial action-taken report due by October 9.
Key Questions Answered
The Department of Financial Services issued the directive following an intervention by the National Commission for Scheduled Castes, after NCSC Secretary Vivek Kumar Dewangan highlighted that state-level bankers' committee reports failed to reflect the percentage of SC families or beneficiaries assisted under major government schemes.
Banks must now include scheme-wise and bank-wise details for programs such as the Pradhan Mantri Mudra Yojana, Stand-Up India, Prime Minister's Employment Generation Programme, PM SVANidhi, CGTMSE, and MSME Business Loans in their periodic review meetings.
The Department of Financial Services directed SLBCs and UTLBCs to submit an action-taken report by October 9 containing details of data availability and any compilation issues, followed by a full update within 30 days.
