‘Banking the unbanked, securing the unsecured’: PM Modi claims 50 crore under social cover

By: | Published: June 27, 2018 12:39 PM

Prime Minister Narendra Modi on Wednesday claimed that as many as 50 crore people are now beneficiaries of the social security covers provided by the central government.

modi, social security schemes, pm narendra modi, modi jan dhan accounts, pm narendra modi social benefits to poor, modi benefits to poor, modi government social schemes“The social security schemes of the Government of India help cope with the uncertainties of life,” the Prime Minister said, stating that the number has been increased about 10 times since 2014.

Prime Minister Narendra Modi on Wednesday claimed that as many as 50 crore people are now beneficiaries of the social security covers provided by the central government. “The social security schemes of the Government of India help cope with the uncertainties of life,” the Prime Minister said, stating that the number has been increased about 10 times since 2014.

Modi’s remarks came while interacting with beneficiaries of various social security schemes of the government through video conferencing. The Prime Minister told his audience that there are around 50 crore beneficiaries under various social security schemes, while the number stood at about 5 crore in 2014, the time he took over as India’s PM.

Referring to his government’s pet financial inclusion programme Pradhan Mantri Jan Dhan Yojana, the Prime Minister said that there was special emphasis on three aspects — opening the doors of the banks for the poor, or banking the unbanked; access to capital for small business and budding entrepreneurs, or funding the unfunded; and a social security cover for the poor and vulnerable, thus financially securing the unsecured.

Modi claimed that around 28 crore new bank accounts have been opened under the Jan Dhan scheme. “I am particularly happy that more women have bank accounts. It is important for women to be in the financial mainstream,” Modi said.

The Prime Minister further said that the government is promoting schemes like Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana and Atal Pension Yojana. He also said that about 1 crore people have subscribed to the assured minimum pension scheme Atal Pension Yojana. The government is also promoting Pradhan Mantri Vaya Vandana Yojana for citizens aged 60 years and above. About 3 lakh people have so far benefited from the scheme.

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