PM's Jan Dhan Yojna, Benefits of Jan Dhan Yojna, Banking to the poor through Jan Dhan Yojna
Modi launches NDA's ambitious financial inclusion plan to end financial untouchability
1.5 crore accounts opened on Day 1 of Jan Dhan Yojna
Under the scheme, announced by the Prime Minister in his Independence Day speech, every household will have at least a basic bank account with a RuPay debit card and an in-built accident insurance cover of "1 lakh as well as an additional '30,000 life insurance cover for those opening bank accounts before January 26, 2015. Further, an overdraft facility up to '5,000 will also be permitted to Adhaar-enabled accounts after satisfactory operation of the account for six months. For bank accounts opened under the scheme, no minimum balance will be required. "While Mahatma Gandhi worked to remove social untouchability, if we want to get rid of poverty we have to first get rid of financial untouchability. We have to connect every person with the financial system. And for that, this programme has been given impetus," Mr Modi said after launching the scheme.
The banking sector would be expanding itself 10 set up an additional 50,000 Business correspondents, more than 7,000 branches and more than 20.000 new ATMs in the first phase.
The new scheme is an improvement over the UPA's financial inclusion programme as it tries addressing the loopholes in the previous scheme. It tries to address all the possible deficiencies and its monitoring would be done at state and district levels. The 'mission mode' approach has been envisaged with the Finance Minister as head of the mission. The mission will have five different levels for overseeing the implementation of the programme three with the Centre and two with State Governments. The programme assumes importance as 42 per cent of the population is still out of the formal banking system, and has to depend on money lenders for meeting their credit needs. The present banking network of the country comprises of a bank branch network of 1. 15.082 and an ATM network of 1.60.055. Of these. 43.962 branches (38.2 per cent) and 23.334 ATMs (14.58 per cent) are in rural areas. The scheme was simultaneously launched at multiple places by 20 Chief Ministers, several Union Ministers, including Information Minister Prakash Javadekar at Pune. Law Minister Ravi Shankar Prasad at Chennai. External Affairs Minister Sushma Swaraj at Bhopal. Home Minister Rajnath Singh at Lucknow and HRD Minister Smriti Irani at Surat. There were in all 600 programmes and 77,852 camps were organised on the opening day to open bank accounts.
India would become an economic superpower: Rajnath: EXUDING confidence in the welfare schemes being launched by the BJP-led NDA Government. Union Home Minister Rajnath Singh on Thursday claimed that the country will be an "economic superpower" in the world along with China and the US. Rajnath said this while launching the ambitious 'Jan Dhan" scheme of Prime Minister Narendra Modi here.
"I think that the manner in which the schemes are being launched by the government, I am confident that India will be in top three economic powers in the world, along with China and US." he said.
"I have full confidence that India would become the economic superpower." he said. Rajnath. while congratulating Modi, said that the scheme was similar to PM road scheme launched by former prime minister Atal Behari Vajpayee. The Union Minister said the scheme launched on Thursday would instill a sense of recognition among the people and bring smile on their faces.
He said the scheme was not only limited to opening of banks accounts, but also has additional benefits, including accidental insurance.
"With the launch of the scheme, the poor community of the society will feel that it has an identity of its own," he said.
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