HP govt to contribute to workers' bank accounts under APY

The Himachal Pradesh government would make a contribution of at least Rs 1000 per annum for the next three years in the accounts of workers under Atal Pension Yojna (APY).

Shimla: The Himachal Pradesh government would make a contribution of at least Rs 1000 per annum for the next three years in the accounts of workers under Atal Pension Yojna (APY).

A budgetary provision of Rs 10 crore under the scheme will benefit one lakh workers/subscribers, Principal secretary (Finance) Shrikant Baldi said on Monday.

Baldi was presiding over the meeting of State Level Bankers Committee to review the performance of banking sector in the State for the financial year 2014-15 here today.

He urged the banks to encourage the people, especially workers of unorganized sectors including Anganwadi, MNREGA and shop workers agricultural and horticultural labourers to adopt APY.

The secretary called upon the bankers to launch aggressive literacy and awareness campaign to enable maximum people to take advantage of social security schemes including Pradhan Mantri Surksha Bima Yojana(PMJSY), Pradhan Mantri Jivan Jyoti Bima Yojna ( PMJJBY) and Atal Pension Yojana.

He also expressed satisfaction over the efforts made by the banks to open accounts of various sections of the society under Pradhan Mantri Jan Dhan Yojana(PMJDY) and linking them with the recently launched social security schemes.

He said that banks had opened around 8.63 lakh new saving bank accounts under PMJDY in the State and more than 10.25 lakh people had been covered so far under PMJSY and PMJJBY.

Baldi urged the banks to take up the credit expansion extensively in the districts with special focus on Area Specific Lending schemes and improving the overall CDR of the State.

Referring to the issue of delayed transfer of Direct Benefit Transfer (DBT) funds Baldi asked the SLBC to review the situation quarterly?and also directed the concerned banks to transfer the DBT Funds in time bound manner.

General Manager of UCO Bank V K Srivastav, who is also and Convener of SLBC, informed that banks had planned to provide fresh credit to the priority sector/sub sectors and other sectors with total financial outlay of Rs 15311.72 crores under the Annual Credit Plan (ACP) 2015-16 for the State.

Banks have projected the annual growth rate of 21 per cent with total financial outlay of Rs 13222.79 crore in the priority sector lending and overall growth rate of 18 per cent with total financial outlay of Rs 15311.72 crore under the Annual Credit Plan for 2015-16.