Mangalore, Aug 28: In a series of simultaneous programmes across the country on Thursday, Prime Minister Narendra Modi launched the Pradhan Mantri Jan Dhan' Yojana, a mega financial inclusion scheme, with the hope that the scheme would help get rid of financial untouchability' in the country.
As part of the mega-launch, the financial scheme was also launched in Mangalore at a programme at Town Hall here on Thursday, in the presence of Union Minister for Social Justice and Empowerment Thawar Chand Gehlot.
The launch of the PM Jan Dhan scheme in New Delhi was screened live in the programme that was attended by state minister for youth affairs Abhaychandra Jain, minister for forests, environment and ecology B Ramanath Rai, Dakshina Kannada MP Nalin Kumar Kateel, deputy commissioner A B Ibrahim, MLCs Ganesh Karnik and Ivan D'Souza and others.
The financial project that was announced by Modi in his first Independence speech recently at Red Fort, aims at ensuring at least one bank account for each household in the country. It aims to cover 60 percent of the country's population that does not have access to formal banking services.
Speaking at the launch in New Delhi, Modi announced that bank accounts opened till January 26, 2015 would get a life insurance of Rs 30,000 and Rs 1 lakh as accident insurance.
This will be a new record for both banks and insurance companies, to have gotten 1.5 crore new bank accounts in a single day. This will be an achievement that will not only bolster the banking sector, but also bring confidence that the government will implement what it promises. This is a significant step towards increasing the rate of the country's economic growth, he said.
“Financial untouchability is being experienced by 40 percent of people in India. If we have to get rid of poverty in the country, financial untouchability should be removed. All these efforts are being made to remove poverty from the society and bring in economic stability,” he said.
Speaking at the programme in Mangalore, Mr Gehlot said that it was essential to have an account in each household to achieve economic equality among people. Even today, 40 percent of families have no access to banking services, as a result of which, they are unable to receive the benefits provided by the government, he said, adding that it was necessary to reach out to financially-backward classes and provide facilities to the beneficiaries.
Nalin Kumar Kateel said that the scheme launched by the NDA government was a revolutionary scheme being implemented with the aim of empowering people by providing them access to banking services and facilities.


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