-The Hindustan Times The finance ministry will soon initiate a survey to assess the efficacy of the Pradhan Mantri Jan Dhan Yojana (PMJDY) and analyse how many accounts have been opened. The report will be sent to Prime Minister Narendra Modi. About 40 million accounts have been opened under the scheme so far. "We would soon initiate a survey to understand how many unbanked households have been covered region-wise," a senior finance ministry...
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25% accounts opened under Jan Dhan Yojana are repeat accounts, admits bureaucrat -Jitendra
-Down to Earth Modi government plans to revive cash benefit transfer scheme of previous government Ever since Prime Minister Narendra Modi's ambitious financial inclusion programme-the Pradhan Mantri Jan Dhan Yojana (PMGDY)-was launched on August 28 this year there have been misgivings over the haste shown by the government to open banks accounts to cover all rural households. Now a statement of a senior government official in the finance ministry shows the pitfalls...
More »Jan Dhan Yojana: Initially, overdraft amount might be small -Nupur Anand
-The Business Standard Based on the credit history banks may later decide to extend the amount Under the Pradhan Mantri Jan Dhan Yojana, the overdraft facility initially offered by banks will be less than Rs 5,000, the highest under the scheme. Based on credit history, lenders might extend the amount at a later stage. Earlier, the finance ministry had clarified a lower amount might be extended under the overdraft scheme. Under this, on...
More »Modi's PMO overloaded as ministries go slow on decisions -Nivedita Mookerji, Jyoti Mukul & Sanjeeb Mukherjee
-The Business Standard Ministers in the Narendra Modi government have been busy making presentations on their 100 days of work. But what these presentations do not mention is that decisions by ministers have been few, with plenty of papers and files moving to the Prime Minister's Office (PMO), which is increasingly emerging as a centralised clearance point, even for routine and ordinary issues. Though policy paralysis was a term used freely...
More »Don’t bank on it, yet -Paranjoy Guha Thakurta
-Deccan Chronicle On August 15, Prime Minister Narendra Modi announced the Pradhan Mantri Jan Dhan Yojana, a financial inclusion scheme that will ensure that at least one member of each and every family in India not only has a bank account with a debit card, but is also provided an overdraft facility of Rs 5,000, a life insurance policy of Rs 30,000 and accident insurance cover of Rs 1,00,000. On August...
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