Sanjay Lohiya, Secretary of the Department of Financial Services (DFS) under the Ministry of Finance, chaired a review meeting to assess credit flow and performance under key government-backed financial inclusion schemes. The meeting evaluated progress across schemes such as PM SVANidhi, PM Vishwakarma, Stand-Up India, and others targeting MSMEs, street vendors, and artisans. Banks and financial institutions presented implementation data, and gaps in outreach and disbursement were discussed for corrective action.

The Department of Financial Services (DFS) sits within the Ministry of Finance and oversees banks, insurance companies, and pension funds. It is the nodal department for major financial inclusion schemes that use the banking system as the delivery pipeline. Understanding the DFS hierarchy — Minister of Finance → Secretary DFS → PSU banks and insurers — is important for exam purposes because questions frequently test who controls public sector banks at the policy level versus who regulates them (RBI regulates; DFS governs ownership and scheme implementation).

Key schemes under DFS review include:
- PM SVANidhi: micro-credit for street vendors (collateral-free loans of ₹10,000/₹20,000/₹50,000)
- PM Vishwakarma: credit and skill support for traditional artisans and craftspeople
- Stand-Up India: loans of ₹10 lakh–₹1 crore to SC/ST and women entrepreneurs, at least one per bank branch
- PMEGP, MUDRA, and Jan Dhan-linked credit products

Review meetings of this kind are standard accountability mechanisms — the Secretary calls PSU bank heads to present disbursement targets vs. actuals. This is distinct from RBI's supervisory function: RBI supervises for prudential norms, while DFS monitors scheme performance and credit targets. Aspirants must not confuse DFS oversight with RBI regulation.