173rd Meeting of State Level Bankers’ Committee, Punjab Held at Chandigarh

Chandigarh, August 12, 2025:  The 173rd meeting of the State Level Bankers’ Committee (SLBC), Punjab, was held at Hotel Mount View, Sector-10, Chandigarh, under the chairmanship of Executive Director, Punjab National Bank, M. Paramasivam, to review the progress up to the quarter ending June 2025.

The meeting was attended by Additional Chief Secretary (Finance), Government of Punjab, Alok Shekhar; Regional Director, Reserve Bank of India, Chandigarh, Vivek Srivastava; Chief General Manager, NABARD, Vinod Kumar Arya; General Manager & Convenor, SLBC Punjab, Parmesh Kumar; and General Manager, Reserve Bank of India, Chandigarh, Pankaj Setia.

General Manager & Convenor, SLBC Punjab, Parmesh Kumar, informed that under the Financial Inclusion Campaign launched by the Department of Financial Services, Ministry of Finance, Government of India, a three-month special registration drive is being conducted at the Gram Panchayat level from July 1 to September 30, 2025, to include all eligible individuals. So far, camps have been organized in 5,801 Gram Panchayats.

Executive Director, Punjab National Bank, M. Paramasivam, stated that during the June quarter, ₹1,02,808 crore was disbursed under the Annual Credit Plan, achieving 48% of the annual targets. He congratulated all banks on this achievement. Punjab’s Credit-Deposit ratio stands at 62.34%, which is higher than the national target of 60%, and he stressed the need to improve it further.

He also highlighted that 17.9 million people have been enrolled under social security insurance schemes so far —
• Pradhan Mantri Suraksha Bima Yojana (PMSBY): ₹20 annual premium for accident insurance cover of ₹2 lakh (age 18–70 years)
• Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY): ₹436 annual premium for life insurance cover of ₹2 lakh (age 18–50 years)
• Atal Pension Yojana (APY): Monthly pension of ₹1,000–₹5,000 after 60 years of age (eligible age: 18–40 years)

Additional Chief Secretary (Finance), Government of Punjab, Alok Shekhar, urged all banks to participate actively in government schemes and organize awareness camps in villages to promote financial literacy.

Regional Director, Reserve Bank of India, Chandigarh, Vivek Srivastava, emphasized the importance of re-KYC under the Financial Inclusion Campaign to avoid transaction-related issues. General Manager, Reserve Bank of India, Chandigarh, Pankaj Setia, called for greater promotion of digital banking, while Chief General Manager, NABARD, Vinod Kumar Arya, stressed the need to enhance credit flow to the agriculture sector.

Deputy General Manager, SLBC Punjab, Ramkishor Meena, presented the detailed agenda. The meeting was attended by senior executives from various banks, Lead District Managers, and representatives from different government departments.