SWABHIMAN – State Financial Inclusion Plan – Maharashtra

Introduction :
Swabhiman is path-breaking initiative by Govt of India and banks in state to
cover the economic distance between rural and urban India. It promises to
bring basic banking services to all unbanked villages in the country with
population above 2000.
The swabhiman movement facilitate opening of bank accounts, provide need
based credit, remittance facilities and help to promote financial literacy in rural
India using various models and technologies including branchless banking
models through Business correspondents.
The Bank-wise summary of number of identified villages having population above 2000
for providing banking services are as under:
A.] Public Sector Banks
Sr. No. Name of the No. of Sr. No. Name of the No. of
Bank unbanked Bank unbanked
villages villages
1. Allahabad Bank 33 11. Indian 21
Overseas BK
2. Andhra Bank 01 12. OrientalBkof 06
Commer
3. Bank of Baroda 176 13. Punjab 26
National Bank
4. Bank of India 506 14. State Bank of 215
Hyderabad
5. Bank of 853 15. State Bank of 855
Maharashtra India
6. Canara Bank 40 16. Syndicate Bank 50
7. Central Bank of 436 17. Union Bank of 189
India India
8. Corporation 03 18. UCO Bank 23
Bank
9. Dena Bank 158 19. Vijaya Bank 03
10. Indian Bank 11 20 IDBI 82
Total (1 to 11) 2217 Total (12 to 20) 1470
Total villages for Public Sector Banks 3687
B.] Regional Rural Banks
Sr. No. Name of the No. of
Bank unbanked
villages
1. Maharashtra 355
Gramin Bank
2. Vidarbh 63
Kshetriya
Gramin Bank
3. Wainganga 92
Krishna Gramin
Bank
Total villages for RRBs 510
C.] Private Sector Banks
Sr. No. Name of No. of Sr. No. Name of No. of
the Bank unbanked the Bank unbanked
villages villages
1. HDFC 01 4. Ratnakar 21
Bank
2. ICICI Bank 72 5. Karnataka 01
Bank Ltd.
Total (1 to 2) 73 Total (4 to 5) 22
Total villages for Private Sector Banks 95

Summary of allocation to Banks

S.No. Particulars No. of unbanked % to total villages
villages
1 Public Sector 3687 85.90
Banks
2 Regional Rural 510 11.88
Banks
3 Private Sector 95 02.22
Banks
Total: 4292 100.00

Pradhan Mantri Jan Dhan Yojana (PMJDY)

The Hon’ble Prime Minister in his Independence Day Speech on 15th August,
2014 announced a comprehensive program of Financial Inclusion targeting
the large number of people who are currently deprived of even rudimentary
financial services. The Pradhan Mantri Jan Dhan Yojana (PMJDY) sets out to
provide a basic Bank account to every family who till now had no account. The
bank account comes with a RuPay debit card with a built-in accidental cover
of Rs 1 lakh.
Basic Eligibility Conditions

i. Person opening Bank account for the first time, with RuPay Card in addition,
during the period from 15-08-14 to 26-01-15, or any additional period as may
be extended further by Government of India.

ii. The person should normally be head of the family or an earning member of
the family and should be in the age group of 18 to 59 (i.e. person should be at
least 18 years old, and should not have turned 60). In case the head of family
is 60 years or more of age, the second earning person of the family in the
above mentioned age group will be covered, subject to eligibility.
iii. Person must have a RuPay Card and Bio – Metric Card linked to bank
account or in process of being linked to bank account if not already there.

iv. The account can be any bank account including a small account.

v. For the coverage to be effective the above RuPay Card should be valid and
in force.

vi. Only one person in the family will be covered in the Bima Scheme and in
case of the person having multiple cards / accounts the benefit will be allowed
only under one card i.e. one person per family will get a single cover of
Rs.30,000/-, subject to the eligibility conditions.

vii. The life cover of Rs 30,000/- under the scheme will be initially for a period
of 5 years, i.e. till the close of financial year 2019-20. Thereafter, the scheme
will be reviewed and terms and condition of its continuation, including the
issue of future payment of premium by the insured thereafter, would be
suitably determined.

Pradhanmantri Suraksha Beema Yojana:

Pradhanmantri Jeevan jyoti bema yojana: