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At a State-level bankers’ committee meeting held in Thiruvananthapuram on March 26 Direct benefit transfer (DBT) shared limelight along with financial inclusion, and education-MSME-farm sector loans. RK Dubey, Chairman and Managing Director, Canara Bank, set the ball rolling at the 109th meeting of the SLBC by saying banks needed to speed up rollout of DBT in the State.
Canara Bank is the convenor of SLBC, Kerala, and Dubey chaired the meeting. Dubey said that pilot DBT projects in the State at Pathanamthitta and Wayanad districts were progressing but said that they could do better with purposeful and focused campaigns. The one family, one bank account campaign too has been progressing well but issuance of Aadhaar cards has not kept pace.
Account opening drive should be extended to cover migrant labourers and street vendors in the State, Dubey said. Financial inclusion would not be achieved merely by opening an account and issue of a card. Each account should have embedded overdraft facility to breathe life into it and ensure transaction of some business.