Social Banking in India

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Social Banking in India
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Social Banking

• Banks provide financial aid to economically
  weaker sections of the society so as to enable
  them to participate and benefit from the
  developmental initiatives of the government. This
  process is called Social Banking.
• Credit alone cannot change the poverty situation.
• Hence reforms like social banking are implemented
  by banks.

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Social Banking by Vijaya Bank

• Some of the social banking schemes supported by
  Vijaya Bank are
• Pradhan Mantri Jan Dhan Yojana (PMJDY)
• Pradhan Mantri Jeevan Jyoti Bima Yojana
• Pradhan Mantri Suraksha Bima Yojana
• Atal Pension Yojana (APY)
• Sovereign Gold Bond Scheme
• Digital Village

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Pradhan Mantri Jan Dhan Yojana
Pradhan Mantri Jeevan Jyoti Bima Yojana

• The main aim of this scheme is to make financial
  services available to the weaker sections of the
  society.
• Services like credit, saving deposit account,
  insurance, pension etc. are extended.

• Main motive of this scheme is to increase the
  percentage of people opting for insurance.
• People who are in the age group 18 - 50, and
  having a bank account, will get insurance cover
  up to 2 lakhs in case of death due to any cause.

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Pradhan Mantri Suraksha Bima Yojana
APY (Atal Pension Yojana)

• Insurance coverage in case of accidental death.
• Cover up to 2 lakhs for death/full disability and
  up to 1 lakhs for partial permanent disability.
• Person should have a bank account and the age
  criteria is 18-70 years.

• Aim of this scheme is to provide Government
  backed pension to the unorganised sector of the
  society.
• Minimum age criteria to join the scheme is 18
  years and maximum age limit is 40 years.
• Returns in the form of pension will be given at
  the age of 60 years.

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Sovereign Gold Bond Scheme
Digital Village

• Here, Government securities are denominated in
  grams of Gold.
• Sovereign Gold Bond (SGB) is issued in paper
  format and demat format by the RBI on the behalf
  of Government of India.

• Aim of this initiative is to empower rural areas
  by connecting them digitally.
• Vijaya Bank was the first Public Sector Bank to
  adopt this scheme.
• Chandagalu village in Karnataka's Mandya district
  is one such example.

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VIJAYA BANK

• Vijaya Bank is a PAN India Institution, serving
  diverse sectors of the society.
• The Bank offers a bouquet of innovative and
  attractive products and services to its
  customers. It has also incorporated a host of
  latest Digital Banking products, to provide the
  best services to its customers.
• Digital Banking services are
• VPAYQWIK
• Mobile Banking
• Net Banking
• Vijaya UPI
• Twitter banking and many more
• For details, visit https//www.vijayabank.com

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THANK-YOU