New Delhi, National Bank for Agriculture and Rural Development (NABARD) and Online PSB Loans Limited have signed an agreement to promote financial inclusion through regional rural banks.
The collaboration seeks to facilitate the process of registration and settlement of claims under Jan Suraksha Schemes for all 43 Regional Rural Banks (RRBs) incorporated on one platform through JanSuraksha Portal.
This initiative represents a significant step towards bridging the financial gap in rural areas and will further empower regional rural banks to leverage digital solutions for seamless enrollment and efficient settlement of Jan Suraksha schemes, NABARD said in a statement.
Under this initiative, NABARD will integrate all 43 RRBs on the JanSuraksha Portal with a view to democratize access to financial protection schemes in previously inaccessible corners of the country, he said.
This digital transformation will not only facilitate processes, but will also guarantee greater transparency and greater speed of disbursement to beneficiaries; therefore, strongly reinforcing an inclusive growth agenda of the Government of India under the Digital India initiative, he said.
NABARD Chairman Shaji K V said the initiative is "a big step towards improving digital financial services in rural India. This epitomizes NABARD's commitment to leveraging technology to make available to RRBs accessible and efficient digital solutions so that financial resilience can be built and inclusive growth promoted." ".
By leveraging technology to connect the JanSuraksha portal with core banking solutions (CBS) of RRBs through application programming interfaces (APIs), the project aims to ensure a hassle-free experience for both banks and their customers. .
The JanSuraksha Portal, an initiative undertaken by the Department of Financial Services (DFS), Government of India, facilitates digital registration and claim settlement for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha BimaYojana (PMSBY).
The collaboration seeks to facilitate the process of registration and settlement of claims under Jan Suraksha Schemes for all 43 Regional Rural Banks (RRBs) incorporated on one platform through JanSuraksha Portal.
This initiative represents a significant step towards bridging the financial gap in rural areas and will further empower regional rural banks to leverage digital solutions for seamless enrollment and efficient settlement of Jan Suraksha schemes, NABARD said in a statement.
Under this initiative, NABARD will integrate all 43 RRBs on the JanSuraksha Portal with a view to democratize access to financial protection schemes in previously inaccessible corners of the country, he said.
This digital transformation will not only facilitate processes, but will also guarantee greater transparency and greater speed of disbursement to beneficiaries; therefore, strongly reinforcing an inclusive growth agenda of the Government of India under the Digital India initiative, he said.
NABARD Chairman Shaji K V said the initiative is "a big step towards improving digital financial services in rural India. This epitomizes NABARD's commitment to leveraging technology to make available to RRBs accessible and efficient digital solutions so that financial resilience can be built and inclusive growth promoted." ".
By leveraging technology to connect the JanSuraksha portal with core banking solutions (CBS) of RRBs through application programming interfaces (APIs), the project aims to ensure a hassle-free experience for both banks and their customers. .
The JanSuraksha Portal, an initiative undertaken by the Department of Financial Services (DFS), Government of India, facilitates digital registration and claim settlement for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha BimaYojana (PMSBY).
