7/25/2019 4.eco
1/2
Implementation mechanism and Ground work
The very important mechanism in implementing the PMJDY is the
banking
network. The present banking network at the beginning of the
scheme comprised
of bank branch of 115!"# and 1$!!55 n%mber of &TMs. '".#( of
these
branches were in r%ral areas. )%t these branches were not eno%gh
to meet the%ltimate ob*ective of PMJDY. The e+cient and cost
e,ective way to match the
demand was -%b -ervice &rea --&/ approach and deploying
f%lly enabled online
0ed point )ank Mitra o%lets. 2e will now look into details of
both
Sub Service Areas
The plan was to map the $ lakh villages across the entire
co%ntry
according to service area. This was done in s%ch manner that
each bank had one
0ed point banking o%tlet 1!!! to 15!! ho%seholds called as
--&. The
panchayat o+ces and other government o+ces were made nodal
points for
operation which res%lted in creation of '!""5 --&s thro%gh
1#1 Districts. P%blicsector banks were estimated to set %p '3"3$
--&s in order to cover the
complete co%ntry.
The --&s were covered thro%gh combination of banking o%tlets
i.e. branch
banking and branch less banking. 4ere branchless banking means
a
representative of the bank called )ank Mitra will take care of
the basic banking
services like opening of bank acco%nts cash deposits cash
withdrawal etc. )ank
mitra may cater to neighboring villages in his area on pre
de0ned times and
days.
Bank Mitra (Business Correspondent)
The bank mitra o%tlets provided for the PMJDY were f%lly e%ipped
with
the re%ired infrastr%ct%re incl%ding comp%ters and other
peripherals. 6t was
necessary to have the internet connection for carrying o%t the
transactions.
There might have been iss%e in several areas of the co%ntry.
4ence there wo%ld
be a committee consisting of vario%s stakeholders incl%ding )-78
to sort o%t
technology related iss%es.
9ach bank mitra was given proper training abo%t basic banking
ins%rance
and pension prod%ct and also on c%stomer handling. &de%ate
rem%neration wasgiven to ens%re he is able provide %ninterr%pted
services.
6ndivid%als like %nemployed yo%th : entities like retired bank
employee
retired teachers retired military personnel etc. or 7;nemployed
yo%th in the villages were enco%rag ed to be the )ank mitra
s%b*ect
to f%l0lling the eligibility criteria. The dress code was
provided for the )ank mitra
it had *acket cap and bag. &ll banks to p%t in place the
scheme of 0nance to the
bank mitra.
-o the 0rst phase co%ld be s%mmari?ed as
