Bank account for each household a "national priority": PM

Bank account for each household a
The Prime Minister, Narendra Modi on Monday asked banks to enroll over 7 crore households and open their bank accounts. The PM, in his Independence Day announcement of the Pradhan Mantri Jan-Dhan Yojana - the National Mission on Financial Inclusion, had stated to cover all households in the country with banking facilities, and having a bank account for each household.

Describing the task as "gigantic," the Prime Minister said, "We need to enroll over 7 crore households and open their accounts. This is a national priority and we must rise to meet this challenge. There is an urgency to this exercise as all other development activities are hindered by this single disability. I am sure we will overcome this situation collectively."

Modi has urged bank officers to "put your shoulder to the wheel and try your level best to ensure that no one is left without a bank account. This itself will be a source of immense satisfaction for you and your teams. I will myself recognize the achievements of the best performing branches."

He said, "The Pradhan Mantri Jan Dhan Yojana lies at the core of our development philosophy of Sab Ka Sath Sab Ka Vikas."

As a first step, under the Pradhan Mantri Jan Dhan Yojana, every account holder gets a RuPay debit card with a Rs 1,00,000 accident cover. "As we go along, they will be covered by insurance and pension products," he said.

"I am confident that you will rise to the occasion and contribute to this national endeavour in significant measure. I am there to support you," he added.

The Pradhan Mantri Jan Dhan Yojana will be launched on 28 August, 2014 across the nation simultaneously.

Read more about: narendra modi
Story first published: Tuesday, August 26, 2014, 9:10 [IST]
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