It is needless to reiterate the role of banks in ensuring the financial stability in the
country and its role in executing the various promotional or poverty alleviation
programs which has consistently improved standard of living of the downtrodden
Many of the developmental programmes like, yesteryears’ IRDP, 20 POINT
PROGRAM. SEEUY, SEPUP or contemporary JANDHAN yojana, PMEGP,
STANDUP, MUDRA LOANS AND DEMONETISATION etcwere successfully
executed by the BANKS. But the costs borne by the BANKS in making the
programs successful were enormous which never has been compensated by any
of the implementing agencies.
When the Government speeded up financial inclusion, it is this banks which have
opened more than 25 crore Jandhan accounts and are in the process of giving
credit. Again bulk of the Mudra loans and Stand up India loans are sanctioned by
the public sector banks only. Even in the Swatch Bharat campaign lot of school
toilets have been constructed by these banks. Considering the demographic
advantage these banks are providing loans to students for their education.
These opportunity cost in the implementation of the Govt sponsored schemes
should be kept in mind while arriving at wage revision. The man hours spent on
the implementation should be counted and monetized.
The work undertaken during the demonetization and the huge expenditure
incurred should be monetized and the Govt should allot adequate funds for the
Banks. It can be in the form of capital or reimbursement of expenses.
We detail below the achievement of Jandhan Yojana.
Accounts opened as on 19.04.2017
(all figures in crores)