One crore new bank accounts in one day? Yes…
Prime Minister Narendra Modi will formally launch the unique financial inclusion scheme wherein one crore savings bank accounts would be opened in a matter of just one day.
This would be part of the ambitious Pradhan Mantri Jan Dhan Yojana announced by Modi during his Independence Day speech from the ramparts of the Red Fort.
The scheme intends to provide every household with a basic banking account with a RuPay debit card and an inbuilt accident insurance cover of Rs 1 lakh. An overdraft facility up to Rs 5,000 will also be allowed to Aadhaar-enabled accounts after satisfactory operation of the account for six months.
Well… Count on Modi for imagining the unimaginable!