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NABARD partners with Online PSB Loans Ltd to digitalize Jan Suraksha Schemes

Published on July 03, 2024
Current Context: NABARD (National Bank for Agriculture and Rural Development) partnered with Online PSB Loans Ltd to digitize Jan Suraksha Schemes for Regional Rural Banks (RRBs) in India on 3rd July 2024.
NABARD partners with Online PSB Loans Ltd to digitalize Jan Suraksha Schemes
  • This initiative aims to bridge the financial gap in rural areas by offering a more accessible and efficient way to manage these social security programs.
  • Here are the key points:
    • Goal: Simplify enrolment, claim settlement, and overall transparency for Jan Suraksha Schemes (government social security plans) for beneficiaries served by RRBs.
    • Platform: JanSuraksha Portal will be used to onboard all 43 RRBs.
    • Benefits:
      • Easier processes for applying and receiving benefits.
      • Faster claim disbursal.
      • Increased financial inclusion for rural communities.
      • Aligns with the Digital India initiative to promote digital financial services.

Question:

1 What is the main goal of the partnership between NABARD and Online PSB Loans Ltd?

  • A) To digitize Jan Suraksha Schemes for Regional Rural Banks (RRBs)
  • B) To provide new social security programs for rural India
  • C) To offer new financial products to urban populations
  • D) To replace Regional Rural Banks with online lenders
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