Published On : Wed, Aug 27th, 2014

Gadkari to grace launching of Prime Minister’s Jan-Dhan Yojana in city on Thursday, Aug 28

jundhanyojnaNagpur News: The flagship scheme Pradhanmantri Jan-Dhan Yojana, announced by Prime Minister Narendra Modi during his address on Independence Day, will be launched on Thursday, August 28 in Nagpur. The scheme, aimed at bringing poor financially excluded people into the banking system by providing them bank accounts and debit cards, will be launched in the presence of Union Surface Transport and Shipping Minister Nitin Gadkari who is arriving in Nagpur on Thursday. The launching programme will be held at Sai Sabhagruh (Hall) in Shankar Nagar at 3.45 pm.

The scheme will cover both urban and rural areas of India and all bank accounts opened will be linked to a debit card which would be issued under the Ru-Pay scheme. (Rupay is India’s own unique domestic card network owned by National Payments Corporation of India and has been created as an alternative to Visa and Mastercard).

Every individual who opens a bank account becomes eligible to receive an accident insurance cover of up to Rs 1 Lakh for his entire family. The Pradhanmantri Jan-Dhan Yojana has set an ambitious target of bringing in more than 7.5 crore un-banked families into India’s banking system by opening more than 15 crore bank accounts at the rate of two bank accounts per household.

Once the bank account has been active for 6 months and has been linked to account holders’ Aadhar identity, they would become eligible for an overdraft of up to Rs 2,500, which would further be enhanced by the bank to Rs 5000 over time.

The long term vision of the Jan-Dhan Yojana is to lay the foundation of a cashless economy and is complementary to the Digital India Scheme.

The scheme will be launched across the country on August 28.