The persistent endeavour of the Yogi Adityanath government in Uttar Pradesh (UP) is spreading banking services down to the village level. With the officials like Shiv Singh Yadav the plan for digitising the services in UP is also in full swing.
The dream of the Chief Minister of the state, Yogi Adityanath, that every citizen of the state should have a banking facility and UP should be at the forefront in realizing the dream of Digital India is being led by competent people. Taking forward this dream of the CM, Shiv Singh Yadav, Director General, Institutional Finance, Insurance and Banking Department of the state, has been making relentless efforts in giving it a shape on ground, and to develop the economy of UP as a digital economy.
The Adityanath government’s work on making Uttar Pradesh a digital UP is in line with Digital India mission of Prime Minister Narendra Modi.
This goal of making UP a digitally advanced economy also is to transform it into a paperless one. Taking it ahead UP’s Institutional Finance, Insurance and Banking department has been providing Quick Response (QR) Code to bring the small traders and street vendors into the gamut of the online payment system. This is to make it easy and convenient for the customers consequently boosting the business of small traders in the state.
Shiv Singh Yadav said, “The UP government has been also helping the shopkeepers to get loans. So far loans worth crores to 8.45 lakh street vendors have been distributed under the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme.”
Emphasis on making a paperless economy
The UP Government is in mission mode and is running the program Digital UP with the aim of making the state’s economy advanced and paperless. Government wants that through the digital economy; the circulation of notes should be reduced which will ultimately save a lot of money and resources for the exchequer.
Road to Limca Book Record
There are many firsts attached to Shiv Singh Yadav’s name in UP’s financial sector and one such achievement is being registered in the Limca Book of Records. Shiv Singh Yadav is credited with establishing the maximum number of banking service centres in a day. This included more than 1,000 Bank Branches and Banking Correspondents getting engaged. His achievement has been widely appreciated.
Pro-people Officer
Shiv Singh Yadav has earned a pro-people’s image. When account holders of the Central Bank of India in Kanpur lost valuables worth more than Rs 3 crores as they went missing from their lockers, it was on his request that the Central Bank passed a resolution for compensation to the victims. Singh believes that being the custodian of banks in Uttar Pradesh; it was his first task to provide fair and just compensation to the bank customers. The common men had kept their hard-earned money and property in the trust of the bank.
Highest Number of Business Correspondents Engaged in Uttar Pradesh
The Government has taken several initiatives over the years to increase banking outreach and ensure greater financial inclusion. In one of the steps banks have been engaging Business Correspondents (BCs) to extend banking and financial services among the masses. The Business Correspondents are retail agents engaged by banks for providing banking services at locations other than a bank branch/ATM.
The state of Uttar Pradesh has led in this and in the last five years maximum number of BCs have been engaged here. This initiative is also to add to the goal of making India a Five Trillion economy and for this UP Chief Minister took a decision to engage every citizen of the state and complement the state’s economy to the mark of one trillion. Since the formation of the Yogi Adityanath’s government Shiv Singh Yadav has worked with every bank to engage BCs so that banking services spread far and wide. In the last five years the number of BCs saw a jump of more than 400 percent (419 % to be specific). Till march 2022 more than 1.26 lakh BCs were engaged. While it was 24, 318 in 2017, it stands at 1,26, 325 till March. A special care was taken to engage Banking Correspondent Sakhis with an aim to promote self-reliance in women, their empowerment and Digital UP.
