Madhya Pradesh unveils scheme for financial inclusion
New Delhi: The Madhya Pradesh government on Saturday launched the "Samvridhhi" scheme for sustainable access to development in a bid to ensure financial inclusion of marginalised people of society and provide them with the facilities of direct benefits transfer.
Aruna Sharma, the additional chief secretary (rural development), said various state government departments will work with the relevant central ministries and also the banks through State Level Bankers Committee (SLBC) and the District Level Bankers Committee (DLBC) to make this project successful.
As per 2011 census, the population of Madhya Pradesh is 72 million, and the population density is 196 people per square km.
More than 75 percent of the state`s population resides in villages and their main occupation is agriculture. The low density of population results in one-third of the village residents needing to commute 20 km to 90 km to do financial transactions.
"The challenge was also to draw the road map for smooth mechanisms of devolution of funds in terms of post office and cooperative banks that were not on the platform of core banking," said Sharma.
She added that the state was already devolving 86 percent of its funds through the bank accounts and cash disbursement was negligible.
More from India
More from World
More from Sports
More from Entertaiment
- Did history fail to serve justice to Dr Shyama Prasad Mukherjee?
- Did history fail to serve justice to Dr Shyama Prasad Mukherjee? - Part II
- Did history fail to serve justice to Dr Shyama Prasad Mukherjee? - Part III
- Did history fail to serve justice to Dr Shyama Prasad Mukherjee? - Part IV
- Are central govt employees justified in demanding salary hike?
- Sensex rallies 216 points on 7th Pay Commission approval, GST hopes
- Euro 2016: Can Iceland emulate Leicester City's fairytale and go all the way?
- NHRC notice to Tamil Nadu over botched eye surgeries
- Tired of boring office attires? Pump up with fresh style hacks this season
- Bid goodbye to frizzy hair this monsoon