The Pradhan Mantri Jan Dhan Yojana — national mission for financial inclusion — will be launched in 76 centres across the country on August 28.
While Prime Minister Narendra Modi will launch the scheme in Delhi, the functions at the state capitals and district headquarters will be presided over by cabinet ministers, chief ministers in BJP-ruled states and senior officials of the government of India.
On the first day, a target of one crore bank accounts has been set for the nationalised banks which are a part of the scheme.
The spadework for opening accounts like collection of KYC information has already been finished.
Pradhan Mantri Jan Dhan Yojana was one of the big announcements in Modi’s Independence Day speech. The aim of the mission, the PM had said was to ensure that every household has at least one bank account.
An estimated 7.5 crore accounts will have to be opened to achieve that target. He has written an email to all bank officers urging them to rise to the occasion and fulfil this “national challenge”.
Under the scheme, every account holder gets a RuPay debit card with a Rs 1 lakh accident cover.
A senor official of the finance ministry explained: “The main launch function will be in Delhi. However there will be 76 simultaneous functions across the country for which cabinet ministers and officers are being deputed. In addition, there will be over 60,000 enrolment camps in rural areas that will be managed by the local branches of the banks. The idea is to generate so much buzz on the first day at the local level that people start demanding an account.”
Banks which are part of the scheme have been instructed to finish the formalities for the opening of the new accounts before the launch.
Modi’s speech from Delhi will be directly transmitted to all 76 centres and shown on a big screen.
Once the speech is over, ministers and officials will take over at the local and regional functions.
There will be symbolic distribution of cheque books to a few of the new account holders in each place.