PM launches Jan Dhan Yojana
In the manner the scheme was launched, records have been broken for the banking and insurance sectors, the Prime Minister said in his inaugural address.
Unveils mobile banking facility on basic mobile phones
- 15 million accounts opened on first day
- 75 mn families to be covered by January
- Each to get bank account, insurance policy
- Rs.5,000 overdraft facility from Republic Day
New Delhi: In the manner the scheme was launched, records have been broken for the banking and insurance sectors, the Prime Minister said in his inaugural address.
"One-and-a-half crore (15 million) insurance policies on a single day, and 1.5 crore bank accounts opened in a day would never have happened before. This is a big record in banking and insurance history," Modi said. The figure is close to the population of the Netherlands. Over 77,000 camps were set up for simultaneously opening accounts, the prime minister said.
"On 15th August, we declared the scheme, it has been implemented in 15 days and 1.5 crore people have been enrolled in a single day," he added.
The objective is to provide each of the estimated 75 million households in the country with a bank account and insurance policy. A film on 'Financial Inclusion' was screened on the occasion. The Prime Minister unveiled a logo and a Mission Document on financial inclusion. He also dedicated a mobile banking facility on basic mobile phones to the nation.
In fact, the overwhelming first-day success led Finance Minister Arun Jaitley, present on the occasion, to revise the earlier time-table for the Pradhan Mantri Jan Dhan Yojana.
Phase-I, wherein 75 million account holders were to be enrolled by August 14, 2015, has been brought forward to January 26, 2015, Jaitley announced.
The second phase, wherein an overdraft of Rs 5,000 will be provided to account holders will now commence from Republic Day next year. "This whole exercise is aimed at lifting the poor out of the poverty line. After today's breakthrough momentum, I don't think it (Jan Dhan Yojana) will stop," Modi said.
"If Mahatma Gandhi worked to remove social untouchability, if we want to get rid of poverty, then 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," he said, adding when a bank account was opened, it's a step towards joining economic mainstream.
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.