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A country like India, with heterogeneous people classified in different income groups, always needed a Prime Minister like Modi to do away with social injustice and inequality. Narendra Modi has taken his first step towards eradicating financial untouchability by launching the financial inclusion programme, wherein, all the people residing in the country must have an account with a bank. This is done so that all the people connect with the economic cycle of the country. Under the PMJDY, the unbanked people can open a zero balance account or an account with a minimum balance. The central bank of India, the RBI has relaxed its rules and regulations regarding the procedure to open an account.
Only an ID proof of the potential customers is needed by the bank to initiate the process. The programme has been made as attractive as it could have been. The government provides accident insurance coverage and life insurance coverage to the registered parties. This would benefit not only the nation but also the fellow beings since any transaction would involve lesser charges as compared to charges on transactions, otherwise, made. Though the launch of this programme is a step towards ‘advance India’, it might lead to large budget deficits initially. The government must channelize its revenues towards the programme and reduce its expenditure except development based expenditure. It is important to spread awareness and provide incentives to the people for the same. The financially and technically handicapped individuals must be taught the procedure to take advantage of the scheme. The government must provide incentives also to the people participating and encouraging the programme.
This is just the beginning. The activities supporting the same are progressive. The programme still has a wide uncovered reach and a large scope for India to prosper. The future of India might reveal what all steps the Prime Minister takes to prove what he has said and provide what he has promised.
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34 Comments. Leave new
Financial Inclusion has indeed helped some sections of the society and such a blog can help spread awareness among people.
I truly hope it does!
I o
This blog is quite informative regarding jan dhan yojana . The scheme has benefited me a lot.
Thanks 🙂 And I hope it benefits others too
beneficial article. keep writing
Thanks 😉
Great work done.
Thank You !
awesome.
Very nice
Thanks loads 😀
PMJDY is so well and clearly explained!
Thanks Farheen
heard lot about it… now got what it is….
That makes me so happy !
Good effort!
one point i’d like to add is it will not only help the poor and the needy but reduce the corruption in heaVY amount… this was really informative
I agree with you. Thank you so much!
Its good very Good
Thanks Amit
Thanks Amit
this scheme is too helpful for farmers and others too… and so was your article to me..
That’s so great. Thanks 😉
this scheme sounds really good but its effectiveness can only be seen once it gives fruitful outcomes or what we can say is its execution…
True. I would say the people i have encountered with have really been benefited with such a scheme.
Pradhan mantri jan dhan yojna apart from generating a lot of funds for investment has also led to increase in employment and development of Banking Sector in India.
Very Well Written 😀
The scheme was explained 😀 very well with simple language 😀
Very well written
Nice!!
Amazing one!
Amazing article
Very nice
great efforts..