Prime Minister Narendra Modi has launched Jan Dhan Yojana, a mega financial inclusion plan under which bank accounts and RuPay debit cards with inbuilt insurance cover of Rs 1 lakh will be provided to crores of persons with no access to formal banking facilities.
Speaking at the launch, Modi said, "This is a record breaking occasion for both insurance companies and banks, to have got 1.5 crore accounts in a single day.” He further added, “This is also a big boost for those who worked for this scheme, that the government can implement what it promises.”
Besides the main launch in the capital, 76 other functions are organized at different places to mark the occasion. Public sector banks, according to an official release, have organized more than 60,000 camps in rural and urban areas on the launch day.
The scheme seeks to provide two accounts to 7.5 crore identified households by August 2018.