Co-op banks will soon get permission to implement govt schemes using JAM: Amit Shah

TIL Desk/National/Ahmedabad/ Union Minister Amit Shah on Tuesday announced that cooperative sector banks will soon be given permission to implement government welfare schemes, which use the trinity of Jan Dhan-Aadhaar-Mobile (JAM) for direct benefit transfer (DBT).

JAM is the Centre’s initiative to link Jan Dhan accounts, mobile numbers and Aadhaar cards to plug leakages of government subsidies. At present, 52 ministries use DBT with the help of JAM to provide assistance to beneficiaries under 300 government schemes, Shah said while virtually addressing the 70th annual general meeting of Ahmedabad-headquartered Gujarat State Co-operative Agriculture and Rural Development Bank Ltd, popularly known as Kheti Bank.

“Very soon, the cooperative sector will enter these government schemes, which will increase our direct contact with the common man. The cooperative sector has been kept away from JAM DBT schemes. But the Centre has now decided to allow the cooperative banks to implement these government schemes,” the Union minister of cooperation said.