Port Blair, August 28: The Prime Minister of India, Mr. Narendra Modi launched the ‘Pradhan Mantri Jan Dhan Yojana’ (PMJDY) at a function at New Delhi today. The launch ceremony, telecast live by Doordarshan, was also screened at all the State capitals, including Port Blair, where the State level function was held at DBRAIT auditorium. Lt Gen A K Singh (Retd), Lt Governor of A&N Islands was the chief guest at the State level function.
Launching the scheme, the Prime Minister described the occasion as a festival to celebrate the liberation of the poor from a poisonous cycle. (Vish-chakra se gareebon ki aazaadi ka parv). Expressing satisfaction at a number of records being broken today, the Prime Minister said the nationwide success of the enrolment drive today would give confidence not just to the officials of the Department of Financial Services and banking sectors, but also to officers across the Union Government, that they can successfully achieve the goals that they set for themselves. “Never before would insurance companies have issued 1.5 crore accident insurance policies in a single day. Besides, never was economic history would 1.5 crore bank accounts have been opened in a single day. The Government of India have never organized a programme of such scale– over 77,000 locations – with the participation of so many Chief Ministers, Union Ministers, Government and bank officials.” He said the success is an inspiration for achieving new heights.
The Prime Minister further said that though the initial target of PMJDY was to open bank accounts for 7.5 crore families in one year, he had exhorted the concerned officials to complete the task before the next Republic Day.
Elaborating the benefits under PMJDY, the Prime Minister said this was not a mere bank account, but had other benefits including an RuPay debit card, Rs 1 lakh accident insurance cover, and an additional Rs. 30,000/- life insurance cover for those opening bank accounts before January 26th, 2015. He said the account performance would be monitored and overdraft facility would be given. The Prime Minister said he had sent 7.25 lakh bank employees, exhorting them to help reach the target of 7.5 crore bank accounts, and bring freedom from financial untouchability.
The Prime Minister referred to the five beneficiary couples who had received account opening kits in today’s event at Vigyan Bhawan, and said the ladies appeared to have dressed for a festival. He said they knew that there could be no bigger festival than the opening of a bank account for empowering women.
The Prime Minister said it is easy for the rich to get a loan at low interest rates. But the poor are forced to seek loans from money-lenders at five times the rate charged to the rich. Is it not the responsibility of the banking industry to provide banking access to the poor, the Prime Minister asked. He illustrated his point through the example of a mother saving money and being forced to hide it somewhere within the house. He said the bank officials who had opened an account for such a mother, had been blessed today.
The Prime Minister said a breakthrough was required to overcome the vicious cycle of poverty and debt, and that breakthrough had been achieved today. He said there were similarities between the poor getting access to mobile telephones, and getting access to debit cards. They both had the effect of instilling confidence and pride among the poor, he added.
In his address at the state level function, the Lt Governor stated that the A&N Administration, under the guidance of Prime Minister and central government, is determined to take the Islands forward. The central government has assured all support and assistance for the progress and development of the Islands, he said, calling upon all the officers of the Administration to rise to the task and inculcate in themselves, self-motivation for forging ahead and taking the Islands towards the path of progress and development.
The Lt Governor said that in the run-up to the election, and also after assuming the office of the Prime Minister of India, the message of Mr. Narendra Modi, Prime Minster is “Development For All”. The Prime Minister has categorically said that his development agenda was not for any particular segment, but progress and development of the entire country. While taking up development and economic progress of the country in the 21st century, the Prime Minister’s vision is that the fruits of development should reach all sections of the society, especially the poor and disadvantaged sections. The very purpose of the launch of the scheme in such a large-scale is that all should participate in the development agenda and be part of an “Inclusive Approach”.
Under the PMJDY scheme, he said, every family will now be able to open accounts. He urged the banks to strive for opening at least two bank accounts per household in the Islands so that all the Islanders should have access to banking facilities. The Lt. Governor distributed bank accounts books to 20 account holders who have opened their bank accounts under the scheme, one each in the 20 commercial banks functioning in the Islands.
There was great applause and appreciation of the Prime Minister’s address by the audience at DBRAIT auditorium. The assemblage watched the Prime Minister’s address spellbound, as it was full of enthusiasm and captivating.
The Chief Secretary, Mr. Anand Prakash, the Chairperson (PBMC), Mr. K Ganeshan and Chairperson (SSWB), Smt. Ratna Kannan, senior officers of the Administration, bankers and large numbers of people of the Islands.
The scheme- ‘Pradhan Mantri Jan Dhan Yojana’ is basically intended to cover under its preview the poorest of the poor, and all those who were deprived of banking accessibility over the last 68 years after Independence because of locational/geographical and social economic disadvantages.
In the A & N Islands, 1548 accounts have been opened in the camps, organized on the occasion at different places in the Islands today. Of this, 700 accounts were opened in Port Blair itself while North & Middle Andaman accounted for 648 and Car Nicobar 200 accounts. According to a report, the banks in different parts of this Union Territory have been able to open about 7000 accounts in various camps organized in this connection since 18th of August 2014.
