The 'Pradhan
Mantri Jan Dhan Yojana', an ambitious financial inclusion scheme under which
the government intends to provide every household with a bank account and
insurance cover, will be launched on 28th August by Prime Minister Narendra
Modi.
The scheme, about which Modi made the announcement in his
Independence Day speech, will be launched across the country simultaneously
amid his emphasis that it lies at the core of "our development philosophy
of 'Sabka Sath Sabka Vikas'".
As a first step, under the scheme, every account holder will get a 'RuPay'
debit card with a Rs one lakh accident cover.
"As we go along, they will be covered by insurance and pension
products," the Prime Minister said today while announcing the decision
about the launch.
Modi, who has sent an email to all bank officers, said bank account for each
household is a "national priority" and they should try their best to
ensure that no one is left without a bank account.
Describing the task as "gigantic," he said, "We need to enroll
over 7 crore households and open their accounts.
This is a national priority and we must rise to meet this challenge.
There is an urgency to this exercise as all other development activities are
hindered by this single disability.
I am sure we will overcome this situation collectively."