Modi launches 'Jan Dhan Yojana', a record 1.5 crore bank accounts opened

New Delhi: Prime Minister Narendra Modi on Thursday launched his government’s ambitious mega financial inclusion scheme, Jan Dhan Yojana, to bring the poor into the “economic mainstream” and to “eradicate financial untouchability”.

Some 1.5 crore bank accounts are expected to be opened on the first day itself, that will be a record of sorts. The scheme envisages opening bank accounts for 7.5 crore families by January 26, 2015.

This is the first major scheme launched by Mr Modi after he assumed office after winning the Lok Sabha elections. The scheme, that every household should have a bank account was announced by the PM on Independence Day.

• 1.5 Crore: A record bank accounts opened across country
• 7.5 Crore: People to be covered by scheme by January 26, 2015.
• Zero-balance bank account
• RuPay debit card
• Life insurance cover of Rs 30,000
• Accident insurance cover of Rs 1 lakh
• Overdraft facility of up to Rs 5,000