Prime Minister Narendra Modi has said that the ambitious financial inclusion scheme Pradhan Mantri Jan Dhan Yojana is aimed to eliminate financial untouchability and bring poor people into the banking system by providing them bank accounts.
Speaking after the launch of the scheme, the Prime Minister said, unless financial untouchability is eliminated, the country cannot be rid of poverty. He said, the scheme has set new records in both insurance and financial sectors as it is for the first time in the history of these sectors that 1.5 crore people are enrolled in a single day. He said that the objective of the initiative is to bridge the gap between the poor and the rich. Mr Modi also said that people opening accounts by January 26th next year, will get 30 thousand rupees life insurance besides accidental insurance of up to one lakh rupees. The Prime Minister said it will cover 7.5 crore people by that time.

The Prime Minister said that direct money transfer to bank accounts will be a tool to fight against corruption. The scheme will cover both urban and rural areas and all bank accounts opened will be linked to a Ru-Pay debit card. The scheme includes 5 thousand rupees overdraft facility for Aadhar-linked accounts, RuPay Debit Card with inbuilt 1 lakh rupees, accident insurance cover and minimum monthly remuneration of 5,000 rupees to business correspondents who will provide the last link between the account holders and the bank.
All the banks including Public sector banks made elaborate arrangements for the smooth roll-out of the scheme and the banks are expected to open about one crore accounts on the first day itself.

People specially from economically weaker sections have started pouring in the banks to open accounts.
The scheme was simultaneously launched at multiple places
by 20 Chief Ministers, several Union Ministers, including
Information Minister Prakash Javadekar at Pune, Law Minister Ravi Shankar Prasad at Chennai, External Affairs Minister Sushma Swaraj at Bhopal, Home Minister Rajnath Singh at Lucknow and HRD Minister Smriti Irani at Surat.
There were in all 600 programmes and 77,852 camps were organised on the opening day to open bank accounts.