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PM Narendra Modi connects 1 crore "unbanked households" with Pradhan Mantri Jan-Dhan Yojna

India TV News Desk 29 Aug 2014, 19:41:26 PM IST
India TV News Desk
New Delhi: Pradhan Mantri Jan-Dhan Yojna, an ambitious programme on Financial Inclusion to cover about 7.5 crore unbanked households in the country was launched on 28 August 2014 by the Prime Minister from Vigyan Bhawan.

The Prime Minister has also asked that the target of opening 7.5 crore bank accounts is to be completed by 26th January, 2015.

Simultaneous launch functions were held in State Capitals and Districts through 79 Mega Camps in presence of the Union Ministers, the State Chief Ministers, MPs/MLAs and other dignitaries. In all more than 70000 camps were held all over the country and 1,84,68,000 accounts were opened.

It has been decided that henceforth, the bank will be holding such camps on weekly basis, from 8 am to 8 pm on all Saturdays so that the target of covering unbanked households is achieved well in time.

Under the scheme, a person from an unbanked household, opening an account will get a RuPay debit card with a Rs. 1 lakh accident insurance cover. An additional Rs. 30,000 life insurance cover for the accounts opened up to 26th January, 2015 was also announced by Hon'ble Prime Minister.

The modalities of this additional life cover are being worked out by the Department of Financial Services.

Beneficiaries, who already have a bank account, are also eligible to take benefits of accident insurance of Rs. 1 lakh and life insurance of Rs. 30,000 under this scheme by getting a RuPay card issued from their bank branch before 26th January, 2015.