The Pradhan Mantri Jan Dhan Yojana is an ambitious financial inclusion scheme under which the government intends to provide every household with a bank account and insurance cover.

While launching his government most ambitious financial scheme, Modi said if the country wants to get rid of the menace of poverty then the first step in that direction would be to empower the poor, adding that this scheme would make the nation free from financial untouchability.

What is Pradhan Mantri Jan Dhan Yojana?

In Pics: Modi launches Pradhan Mantri Jan Dhan Yojana

“I believe whenever someone opens up a bank account, it is their first step towards being a part of the economy,” PM Modi said.

“If we have to eradicate poverty then we will have to make our nation free from financial untouchability,” he added.

“This entire effort is for the poor and to eradicate poverty from the nation. The poor of the nation will get strength to fight poverty with this scheme,” he stressed.

Highlights
‘Pradhan Mantri Jan Dhan Yojana’ will help in bridging gap between rich, poor, says PM
The scheme would empower the underprivileged people: PM Modi
Modi says the scheme would make nation free from financial untouchability
PM claims every poor would now have a ‘Rupay’ debit card and an insurance cover of Rs 1 lakh
Modi praised the Indian banking sector for its efforts in the scheme
Opening around 1.5 crore bank accounts under this scheme on a single day is a record, says Modi
PM says the scheme would have a positive impact on the lives of women
‘Pradhan Mantri Jan Dhan Yojana’ will go a long way in strengthening national integrity, says PM
The ‘Pradhan Mantri Jan Dhan Yojana’ launched across the country simultaneously on Thursday

Modi said that the poor in the country is aware that the process to revive their fortunes was initiated on Independence Day when he had announced this motivational scheme.

He further said that these kinds of schemes bring a positive change in the country, adding that now every deprived person in the country would have a ‘Rupay’ debit card and an insurance cover of rupees one lakh.

“India’s poor know that a start to change his fate was made on 15th August. These are the things that bring change,” Modi said.

“Now, the poor people of our nation would also avail the facility of debit cards. It will bridge the gap between the poor and richer of the nation,” he added.

Modi also praised the Indian banking sector for its efforts and added that opening around 1.5 crore bank accounts under this scheme on a single day is a record.

The morale of government employees would also go up due to this scheme which aims at reducing the existing gulf of difference between the neglected and the well-off people in the country, the Prime Minister said.

“This scheme not only is an achievement for the banking sector but it will also boost the confidence of people in the government too,” Modi said.

“Opening up of bank accounts of 1.5 crore people is a huge record in banking history,” he added.

The Prime Minister said that this scheme would have a very positive impact on the lives of women in our nation and it will also help the government fight graft in an effective manner.

He further said that the ‘Pradhan Mantri Jan Dhan Yojana’ will go a long way in strengthening national integrity.

“Women of the nation will bless us if they are able to open bank accounts easily. This will be a weapon which will strengthen us to combat corruption,” Modi said.

“Most of prize winners are from Non-Hindi speaking states but they named the program in Hindi, this is national integration,” he added.

The scheme, about which Modi made the announcement in his Independence Day speech, was launched across the country simultaneously with his emphasis on the core of his development philosophy of ‘Sabka Sath Sabka Vikas'.

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