Reserve Bank of India (RBI) Deputy Governor Swaminathan Janakiraman has stressed that true financial inclusion is not just about providing access to banking services but also about equipping people with the financial knowledge to improve their lives and contribute to the economy.

Speaking at Indian Bank’s Financial Inclusion Saturation programme in Tiruvallur district on Saturday, Janakiraman said initiatives such as Re-KYC camps make essential banking processes easier by eliminating the need for customers to visit branches, while also fostering financial literacy.

“Financial inclusion is not just about providing banking access but also about enabling individuals to improve their lives through financial literacy and contribute to the country’s economic growth,” he said in a statement released by Indian Bank.

Focus on Key Government Schemes

The camp, aimed largely at Pradhan Mantri Jan Dhan Yojana account holders, also facilitated enrolments in two flagship insurance schemes — Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), which offers annual term life cover, and Pradhan Mantri Suraksha Bima Yojana (PMSBY), which provides accident insurance for death or disability.

Indian Bank MD and CEO Binod Kumar said the bank is committed to “bringing banking to the doorstep of every citizen and enabling full participation in the nation’s progress.”

More than 2,000 people — including farmers, self-help group members, students, and senior citizens — attended the event. Nearly 350 Re-KYC updates were completed on the spot.

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