We all aware of this fact that every promise takes some time to be fulfilled, doesn’t it? We have seen so many politicians failing to maintain the promises that they uttered. But hey, here we see that promises are being fulfilled. Keeping his promise made during the independence day speech, Prime Minister NarendraModi, today, launched the Jan DhanYojana. This Yojana or scheme which is aimed to connect poor people with bank account created a record today, right on the first day.
Reports suggest that 1.5 crore bank accounts were opened on the first day of this scheme.
Prime Minister Modi said that this is a scheme “to end financial untouchability and attain freedom from poverty”. Under this scheme, each account holder is going to provide wth a debit case and an amount of Rs 100,000. Prime Minister Modi declared that the bank accounts that will be opened till January 26 next year will get a life cover amount of Rs 30,000.
At the launch event, along with Prime Minister Modi, present were RBI governor RaghuramRajan, PM Modi’s Principal Secretary Nripendra Mishra, Finance Minister ArunJaitley and Minister of Industry and Commerce NirmalaSitharaman. While speaking at the launch event, Prime Minster Modidescribed the occasion as a festival to celebrate the liberation of the poor from a poisonous cycle.
“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,” Modi said in his speech, adding, “We have to connect every person with the financial system. And for that this programme has been given impetus.”
“When a bank account is opened, it’s a step towards joining economic mainstream,” he said.
The Prime Minister said that though the initial target of PMJDY was to open bank accounts for 7.5 crore families in one year, he had exhorted the concerned officials to complete the task before the next Republic Day.
The Economic Times reported that the finance ministry has set ambitious target of 1.5crore bank accounts on the 1st day. The Economic Times alre reported that RuPay cardholders will have dual insurance, with the government hoping in the Life Insurance Company of India.
The Financial Express reported that Modi recalled the bank nationalization of 1969 with the avowed objective of spreading the reach of financial system to the doorsteps of the poor.
The Prime Minister also distributed awards to winners of the Name and Logo contest for this scheme. He observed that those who won prizes were predominantly from non-Hindi speaking states, but had won prizes for coining a name and slogan in Hindi.
Tags: india Jan DhanYojana Narendra Modi
