1 week ago
Public-Sector Banks Plan Youth Push Through Digital Banking
India’s public-sector banks want more young people to use their services.
They will start a month-long “Banking for Youth” programme on October 2.
The banks plan to teach students and young professionals about money and safe digital banking.
They also want to offer internships through the Mera Yuva Bharat portal.
Some trained interns may later be considered for entry-level bank jobs.
Banks may visit colleges and skill-development institutions to open accounts for young people.
Special “Yuva Kiosks” or banking helpers could explain loans and other products.
The finance minister said banks should build relationships with customers from education through future jobs, businesses and investments.
The month-long “Banking for Youth” initiative will begin on October 2.
Public-sector banks plan to use the Mera Yuva Bharat portal for internships, training and financial-literacy programmes.
Interns trained through the Prime Minister Internship Scheme could be considered for entry-level PSB jobs.
Banks will target young customers through college outreach, account-opening drives and digital-banking awareness.
Finance Minister Nirmala Sitharaman urged PSBs to shed their “government bank” image and become more youth-friendly.
- Who
- Public-sector banks, Finance Minister Nirmala Sitharaman, and young people aged 15 to 29 registered on the Mera Yuva Bharat portal.
- What
- PSBs are launching “Banking for Youth” to attract young customers, expand financial education and digital-banking outreach, and develop internship and recruitment opportunities.
- Where
- The programme will use the Mera Yuva Bharat portal and reach colleges, universities and skill-development institutions.
- When
- The month-long initiative starts October 2; the strategy was discussed at a recent two-day PSB Confluence.
- Why
- PSBs want to attract the next generation of customers, build long-term financial relationships and address barriers to digital financial services.
Key facts
- Initiative
- “Banking for Youth”
- Start date
- October 2
- Duration
- One month
- Youth platform
- Mera Yuva Bharat, a portal for people aged 15 to 29
- Potential jobs
- Trained interns could be considered for entry-level positions at public-sector banks
- Outreach
- Financial literacy, digital banking awareness, college account-opening drives and proposed Yuva Kiosks
- Measures
- The number of youth trained and the share later hired could be used as performance parameters
Sources
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