(MENAFN- KNN India) New Delhi, Nov 13 (KNN) To create a one-stop digital platform and link multiple Central Government credit related schemes a unified JanSamarth Portal was launched by Department of Financial Services (DFS), Union Ministry of Finance.

The portal was unveiled during the meeting called by the DFS Secretary M. Nagaraju for reviewing the financial performance of Public Sector Banks (PSBs) for H1 FY 2025–26.

The JanSmarth portal is to provide a common Application Journey for start-ups combining 14 schemes and 7 types of loan products.

The discussion focused on financial performance, asset quality, recovery and resolution, digital transformation, and progress under key government schemes.

UIDAI presented on the use of Aadhaar for digital identity integration and de-duplication, while sessions also explored human-AI convergence in banking.

PSBs reported a net profit of Rs 93,675 crore, with aggregate business at Rs 261 lakh crore as of September 2025.

Advances rose 12.3 percent and deposits 9.6 percent year-on-year. Asset quality improved with Gross NPAs at 2.30 percent and Net NPAs at 0.45 percent.

The Return on Assets (RoA) was 1.08 percent, and the cost of funds improved to 4.97 percent, reflecting enhanced efficiency and profitability.

Nagaraju commended PSBs' consistent performance and urged continued momentum in low-cost deposit mobilisation and credit growth, particularly in MSME and agriculture sectors.

Banks were advised to strengthen risk management, underwriting practices, and operational resilience to sustain profitability. Digital banking advancements were highlighted, including improved mobile app interfaces, multilingual support, and transaction efficiency.

The Secretary stressed that digital banking must remain inclusive and secure, encouraging enhanced cyber resilience, operational continuity, and the adoption of responsible AI and data analytics to improve customer service.

Progress under government schemes was reviewed, including the PM Surya Ghar Muft Bijli Yojana, PM Vidya Lakshmi Yojana, PM Vishwakarma Yojana, and JanSamarth digital lending initiatives, with focus on reducing application turnaround times and expanding assisted journeys through Business Correspondents and SLBC coordination.

Performance under financial inclusion programmes such as PMJDY, PMJJBY, PMSBY, APY, PMMY, and PM SVANidhi was also discussed, alongside the 'Aapki Poonji, Aapka Adhikar' campaign to enhance outreach in underserved districts.

On asset quality, PSBs continued to report improvements in recoveries. The National Asset Reconstruction Company Limited (NARCL) acquired Rs 1.62 lakh crore in debt with significant recoveries.

Banks were advised to leverage platforms such as BAANKNET for faster, transparent resolutions and strengthen early warning systems.

Banks were also urged to increase credit flow to key sectors such as renewable energy, green infrastructure, food processing, tourism, and data centres, implement sustainable financing practices, and align with the Expected Credit Loss (ECL) framework through data-driven provisioning.

Developed jointly by the Indian Banks' Association (IBA) and PSB Alliance, the portal offers startups a unified digital platform to apply for loans, compare offers, and track their applications across all public sector banks.

The initiative, backed by a Model Loan Scheme, offers credit up to Rs 20 crore under the Credit Guarantee Scheme for Startups (CGSS) administered by the NCGTC under DPIIT.

The portal integrates data from PAN, GST, Udyam, ITRs, and credit bureaus, enabling faster processing and transparency. Special interest concessions for women entrepreneurs further promote inclusivity.

(KNN Bureau)

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