PM Banks on Mega Plan to Fight Debt

A Formidable Task
  • Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched by the Prime Minister to ensure that at financial inclusions, a record of 1.5 crore bank accounts were opened across the country
  • PMJDY ensures that every family will have at least two bank accounts with a RuPay debit card, Rs.1 lakh accident insurance cover and an additional Rs. 30,000 life insurance cover. These benefits will apply to all accounts opened before January 26, 2015
  • This scheme has added confidence in people breaking the vicious cycle of poverty and debt, in a single day insurance company issued 1.5 crore accident insurance policies as well as opening bank accounts
  • This scheme was available around 77,000 locations where the Chief Minister, Union Minister government and bank officials participated
  • The vision of the Prime Minister is to open 7.5 crore bank accounts before the Republic Day for which Mr.Modi has written to 7.25 lakh bank employees to take forward the PMJDY mission