Saturday, August 30, 2014

Getting Into The System: Indians Open 15 Million Banking Accounts in One Day

From the Business Standard:

PM Modi launches Jan Dhan Yojana, 1.5 crore bank accounts opened
FM Arun Jaitley said by Jan 26, 2015, the number will swell to 7.5 crore

Prime Minister Narendra Modi releases publications at the launch of Pradhan Mantri Jan Dhan Yojana in New Delhi
Prime Minister today formally launched the government's financial inclusion programme - the Pradhan Mantri Jan Dhan Yojana.

The project. which will help provide a for every Indian household is widely seen as the first comprehensive financial inclusion scheme in the country.

Speaking at the ceremony, Finance Minister said 1.5 crore accounts will be opened on first day of the scheme.

He said the scheme will be carried out on a "mission mode". He said the scheme hopes to rope in 7.5 crore accounts by Jan 26th, 2015.

Speaking at the event, Prime Minister Narendra Modi said more than 1.5 crore people getting insured in one day is a big record in the banking history and that the scheme will provide confidence to people.

He said the scheme's objective was to eradicate poverty and eliminate the "financial untouchability" that exists in the country....MORE
HT: Alphaideas 

Update 7:44p IST 10:48a EDT
Banks open 2.14 crore accounts under Jan Dhan mission