-The Hindu The reassuring message in the Pradhan Mantri Jan Dhan Yojana is that in pursuing its economic objectives, the government wants to accord an important role to the public sector even while relying on market mechanisms The goal is hard to achieve. It is costly and unviable. It will create huge stresses in the banking system. The Narendra Modi government's Pradhan Mantri Jan Dhan Yojana (JDY), an ambitious scheme for financial...
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Narendra Modi's Jan Dhan - what's new? -Debashis Basu
-The Business Standard Like Indira Gandhi, even Narendra Modi seems to be relying on directing public-sector banks through ministry of finance supported by party cadres. How new is that? Narendra Modi's biggest project so far is Pradhan Mantri Jan Dhan Yojana (PMJDY), an aggressively promoted idea to open bank accounts. The English media ran full-page ads and TV commercials to announce the scheme that is supposed to reach largely rural households. It...
More »PM’s Jan Dhan Yojana faces access deficit -Rukmini S
-The Hindu Providing access to credit likely to be a hard step For Prime Minister Narendra Modi's newly launched Jan Dhan Yojana to be successful, India needs to provide over 100 million households access to banks, data show. An even harder step, however, is likely to be access to credit. As of March 2012, the most recent year for which relevant Reserve Bank of India (RBI) statistics are available, India had over 900...
More »No easy routes to financial inclusion
-The Business Standard Financial inclusion must be set up to pay for itself The Jan Dhan Yojana, a scheme for financial inclusion announced by Prime Minister Narendra Modi in his Independence Day speech, intends to take banking services to the 40 per cent of India that does not have bank accounts. This task is daunting. A good portion of those no-frills accounts that have already been opened have only minimal activity -...
More »Andhra Pradesh counters RBI's claims -Jinka Nagaraju
-The Times of India In a sternly-worded letter dashed off to the Reserve Bank of India (RBI), the Andhra Pradesh government has urged the institution to not underestimate the distressful conditions prevailing in the state for the past three years, which has forced as many as 6,792 farmers to commit suicide. The nine-page letter dated July 25, countering RBI's argument about AP reporting no cases of acute concern among farmers, has been...
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