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Product - Financial Inclusion Plan:FIP

Performance under various FIP initiatives as on 31.03.2017


FIP initiative

Position as on 31.03.2017

PMJDY accounts

10,57,508

SB-FI accounts opened (No.)

 3,61,846

Rupay Debit cum ATM cards  issued (No.)                  

1,16,837

Amount outstanding in SB-FI accounts (Rs. In lacs)

1396.51

RuPay - KCC cards issued (No.)

3,66,589

Financial literacy awareness meetings by FLCs in 2016-17

258

Financial literacy awareness meetings by branches in 2016-17  (In addition to the meeting conducted by FLCs)

 452

Aadhar Seeding in PMJDY accounts (percentage)

85.55%

Mobile No. Seeding in PMJDY accounts (percentage)

73.22%

PMJJBY – Insurance enrolments

1,47,978

PMSBY – Insurance enrollments

2,61,008

APY - Enrollments- in  2016-17

11,427

Insurance Claims settled under PMJJBY

840

Accidental insurance claims settled under PMSBY

150

RuPay cards - issued 

5,08,374

RuPay cards -  activated

4,32,140


Financial Inclusion Plan:

Inclusive growth is essential for the overall balanced growth of the country. The bank is actively implementing the Financial Inclusion Plan (FIP) of Government of India. 1526 unbanked villages in Rangareddy, Karimnagar, Nizamabad and Adilabad districts (pre-reorganization) in the state are covered under FIP of the bank.

Ultra Small Branches (USBs):

Banking services are provided through 436 USBs in the remote and unbanked villages. We use Micro-ATMs for the purpose. Services available at USBs include SB, RD and TDR account opening, cash deposits and withdrawals, fund remittances, DBT, pension and other social security payments of government.Micro ATMs are biometric enabled and undertakes Aadhaar based transactions to avoid malpractices.

Capacity building for CSPs:

The bank has a policy in place to impart adequate and appropriate training to all the CSPs, Customer Service Providers managing the USBs, for smooth and hassle free functioning of the USBs and to render uninterrupted and quality service to our rural customers in unbanked villages. So far 390 CSPs have been trained till date with help of the NABARD under Financial Inclusion Fund (FIP). We have plans to impart training to another 90 CSPs during 2017-18.

Financial Literacy Centers (FLCs):

The Bank is running 4 FLCs, one each in Rangareddy, Karimnagar, Nizamabadand Adilabad erstwhile districts of the state. Main objective of FLC is to spread financial literacy among rural people by conducting Financial Literacy Awareness Camps. Financial literacy awareness camps cover various bank facilities, insurance products, savings and investment opportunities, income generation, and loan repayment discipline apart from normal bank schemes. NABARD is extending training, financial and other support for running FLCs.

Financial Literacy Awareness Camps (FLACS):

In addition to the meetings conducted by FLCs branches also conduct awareness camps in FI and other villages to propagate financial literacy.

The bank is taking all the initiatives at its disposal to propagate financial literacy among the population in bank's operational area.

Aadhaar & Mobile Number seeding :

To facilitate the transactions under Direct Benefit Transfer (DBT), MGNREGS, Pension and other account transactions thebank actively involved in Aadhaarseeding tocustomer accounts -ABPS is being taken up on top priority by the bank.

PMJDY:

Pradhan Mantri Jan Dan Yojana (PMJDY) accounts are being opened as per the household survey and covered all the households in our area of operation. The Bank is aiming to cover all eligible customers underSocial Security Schemes, viz:Pradhan Mantri Jeevan Jyothi Bima Yojana(PMJJBY) Pradhan Mantri Suraksha BimaYojana (PMSBY) and Atal Pension Yojana(APY).

e-Payment Literacy workshop:

As part of going digital program the bank has conducted e-Payment Literacy workshops on 8th September 2015 at Nizamabad and Karimnagar. The purpose of the workshop was tomakethe customers and as well as bank staff about numerous features functionalities of electronic modes of banking likeATMs, electronic payment systems like NEFT, RTGS, IMPS, seeding of Aadhaar and security measures to be adopted while making online payments.

Financial Inclusion Plan road map for a three year period was submitted in the new format to NABARD and RBI in 2016.

Digitization/ cash less business:

We are and popularizing and encouraging our customers and others too to make use of RuPay card and Aadhaarbased transactions through Micro ATMs.One village per branch was identified for implementation of cashless transaction.

Programs and campaigns conducted in 2016-17.

Bank officials and CSPs have actively participated in Deccan Haat 2016 mela organized by NABARD during 16thDecember to 24th December 2017 and Digi - Dhan mela organized by SLBC, Telanganafrom 18thJanuary to 19th January 2017.

Bank Sakhis:

The Bank has appointed 110 Bank Sakhisagainst total 436 CSPs/Bank Mithras deployed in USBs. We have plans to appoint more SHG women CSPs in coming days.