PM launches Pradhan Mantri Jan Dhan Yojana

August 28, 2014

Indian Prime Minister living upto his image of a man of action and less rhetoric, successfully unveiled and launched the Pradhan Mantri Jan Dhan Yojana, within 15 days of its formal announcement from the Red Fort on independence day.
The scheme is said to eradicate financial untouchability and will be a game-changer to bring about financial inclusion in the country. The scheme will provide bank accounts to every Indian family. The first day saw a humungous outpour of public to get their accounts opened.
The scheme ultimately plans to wipe out poverty and bring benefits of our economic prosperity and growth to every Indian.
As an initial incentive to attract people the government which has set a huge target of opening 7.5 crore bank accounts by January 15, 2015. To get the ball rolling, an additional advantage is added for everyone who gets an account opened before the said date, will get an additional insurance of Rs. 30,000 apart from the Rs.1 lakh accident cover. This will also enable the account holders to get the transfer payments for any welfare scheme or government work to directly be transferred to the bank accounts rather than any regional or rural banks which ultimately led to corruption at various levels. An overdraft facility of Rs.5000 will also be given to the account holders. The beneficiaries will also get a Rupay ATM debit card.
The scheme was simultaneously launched in 20 states by their respective CMs. 600 programmes and 77,852 camps were being organized in di

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