PSU Banks Monetize Rs 4.5 Cr through Scrap Disposal

Public sector banks (PSBs) and financial institutions generated Rs 4.5 crore through scrap disposal during a month-long special campaign aimed at reducing backlog and promoting cleanliness. This campaign, called Special Campaign 4.0, ran from October 2 to October 31, 2024, and was launched by the Department of Financial Services (DFS).

The campaign focused on better space management, customer-centric initiatives, environmental cleanliness, record management, and scrap disposal, according to an official statement from the finance ministry.

Various organizations under the DFS, including PSBs, public sector insurance companies, and other public sector financial institutions such as NABARD, SIDBI, EXIM Bank, NHB, and IIFCL, actively participated in this initiative.

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The DFS achieved 100 percent disposal of all identified Public Grievances, Public Appeals, PMO references, and MP references, it said. As much as 11.79 lakh square feet of space has been freed and revenue of Rs 4.50 crore has been earned through scrap disposal, it said, adding that the campaign was conducted in more than 38,500 sites across the country.

During the campaign period, 12 PSBs and 43 Regional Rural Banks organized Pension Grievances Weeks. In the camps, apart from the grievances registered & redressed, pensioners were also educated regarding the submission of online life certificates and doorstep banking facilities. In more than 52,208 branches across the country approx. 1.45 lakh pensioners were contacted, it said.

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