State Hosts 5,230 Camps to Boost Financial Inclusion Nationwide

Quick Summary:

• Nationwide Campaign: Indian Overseas Bank (IOB), under the Department of Financial Services, is conducting a financial inclusion campaign in Tamil Nadu.
• Scale: 5,230 camps have been organized across the state targeting gram panchayats and urban local bodies (ULBs).
• Duration: The initiative will run from July 1 to September 2025.
• Focus areas:

– Re-KYC of existing savings account holders.
– Opening bank accounts for unbanked adults under pradhan Mantri Jan-Dhan Yojana (PMJDY).
– Enrolments in other schemes such as Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojna (APY).
– Conducting awareness on digital fraud prevention and methods to access unclaimed deposits.
– Updating nominations in accounts where pending.

• Progress So Far:

– re-KYC completed for 47,499 PMJDY accounts and 60,853 other accounts.
– Nominations updated for over 67,655 accounts across PMJDY and others.

Indian Opinion Analysis:

The ongoing campaign underscores India’s focused efforts toward achieving comprehensive financial inclusion at grassroots levels.Wiht Tamil Nadu hosting over 12,000 gram panchayats alone, the scale of this exercise highlights both logistical challenges and opportunities for deepening formal banking access. By integrating enrollment into several welfare schemes like PMJJBY and APY with basic banking services such as Re-KYC updates, the initiative aims to create an inclusive ecosystem catering to diverse needs-from insurance coverage to retirement savings.Moreover, addressing issues like digital fraud awareness reflects a proactive approach towards ensuring safe banking experiences amidst increasing reliance on digital platforms. The progress revealed during this midpoint demonstrates momentum; however, sustained monitoring will be crucial till its end date in September next year.

for citizens who remain outside mainstream banks or lack scheme benefits coverage in rural pockets of Tamil Nadu’s gram panchayats-this campaign may mark a pivotal shift toward economic empowerment.

Read More: Published August 05, 2025