Prime Minister Narendra Modi on Thursday launched his pet project the ‘Jan Dhan Yojana’, which aims to provide bank accounts to the poor and end financial untouchability.

In his speech, PM Modi stressed on the need to eradicate financial untouchability for poverty alleviation. He also recalled the bank nationalisation of 1969 and vowed to spread the reach of financial system to the doorsteps of poor. “10 crore people do not have a bank account. Even after 68 years of independence, 68 per cent of the population are not connected with banking,” he said.

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.

Around 7.5 crore people will be covered under the Jan Dhan Yojana scheme by January 25, 2015. Finance and Defence Minister Arun Jaitley said that 1.5 crore bank accounts will be opened on the first day of Jan Dhan Yojana scheme.

Through this scheme, villages of over 2,000 population will have some banking system, said Modi. Account holders will be provided with a ‘RuPay’ debit card and Rs. 1 lakh accident cover.

By January 26, people opening accounts will get Rs 30,000 life insurance besides accidental insurance of up to Rs 1 lakh, said Modi. The account holders will also be provided an overdraft facility of up to Rs 5,000.



For More information on this news visit : http://www.newsx.com/
Connect with us on Social platform at : http://www.facebook.com/newsxonline
Subscribe to our YouTube Channel : http://www.youtube.com/newsxlive