FinMin to meet top bankers on Jan Dhan programme

Written by PTI | New Delhi | Updated: Nov 2 2014, 19:42pm hrs
The Finance Ministry has called a meeting of the heads of banks on November 5 to review the progress of the Pradhan Mantri Jan Dhan Yojana, government's flagship financial inclusion programme.

Department of Financial Services Secretary G S Sandhu will review on Wednesday the progress of PMJDY and discuss various issues pertaining to the programme including broadband connectivity in far flung areas, sources said.

Top officials of state-owned telecom firm BSNL, National Payments Corporation of India, National Informatics Centre, the Reserve Bank, IBA and Nabard will also attend the meeting.

There will also be deliberations on account opening, free insurance with Rupay Card, Rupay card issuance financial literacy and last mile connectivity among others.

As on October 22, a total of 6.47 crore accounts have been opened with a deposit of Rs 4,813.59 crore.

In order to spread financial inclusion, banks have been asked to open 7.5 crore accounts by January 26. PMJDY scheme envisages to provide one account to 15 crore unbanked households across the country in the first phase.

Jan Dhan Yojana, launched by Prime Minister Narendra Modi on August 28, is a national mission on financial inclusion encompassing an integrated approach to bring about comprehensive financial inclusion of all the households in the country.

The Yojana envisages universal access to banking facilities with at least one basic banking account for every household, financial literacy, access to credit, insurance and pension facility.

The main features of the PMJDY scheme include Rs 5,000 overdraft facility for Aadhar-linked accounts, RuPay Debit Card with inbuilt Rs 1 lakh accident insurance cover.

Besides, account holders under the scheme will get life insurance cover of Rs 30,000. This was additional benefit announced by the Prime Minister during the launch of the scheme.