Prime Minister Narendra Modi will today launch 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. Mr Modi made the announcement about this scheme in his Independence Day speech. It will be launched across the country simultaneously. It will cover both rural and urban areas. As a first step, under the scheme, every account holder will get a 'RuPay' debit card with a Rs one lakh accident cover. Mr 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, the Prime Minister said, the banks need to enroll over 7 crore households and open their accounts.
Public sector banks have made elaborate arrangements for the smooth roll-out of the scheme as they expect to open about one crore accounts on the first day today. General Manager of Canara Bank SS Bhat said, 60 to 70 thousand camps will be set up today for the purpose. Besides the main function in Delhi, the scheme is being launched simultaneously at every state capital. Minority Affairs Minister Najma Heptulla will inaugurate the scheme at a state level function in Kolkata.