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, was launched by Prime Minister Narendra Modi on Thursday.
The scheme, about which Modi made the announcement in his Independence Day speech, was launched across the country simultaneously amid his emphasis that it lies at the core of "our development philosophy of 'Sabka Sath Sabka Vikas'". '1.5 crore bank accounts will be opened on first day of Jan Dhan Yojana'
Jan Dhan Yojana, a dream project to open at least one bank account to every household. Noting that 10 crore people do not have bank account, the Finance Minister aims to cover 7.5 crore people under Jan Dhan Yojana by January 25, 2015. As a first step, under the scheme, every account holder will get a 'RuPay' debit card with Rs 30,000 life insurance besides accidental insurance of up to Rs 1 lakh.
