7
Pradhan Mantri Jan Dhan Yojana: Malhotra said that the Central Government and RBI started Jan Dhan Yojana with the help of banks 11 years ago, which led to development in the entire country.
Pradhan mantri jan dhan yojana: Reserve Bank of India (RBI) Governor Sanjay Malhotra said on Saturday that India will soon become the third largest economy in the world. He credited the Pradhan Mantri Jan-Dhan Yojana for promoting the growth of the country. His remarks have come at a time when India’s GDP has increased by 7.8 percent in the April-June quarter of the current financial year, which is the highest among the five quarters before the US imposed heavy tariffs on the country. Addressing the financial inclusion campaign ‘Santruti Camp’ by public sector banks in Rangwasa village here, Malhotra said that the Central Government and RBI had launched Jan Dhan Yojana with the help of banks 11 years ago, which led to development in the entire country. He said that today India is counted among the five most developed countries in the world and soon the country will become the third largest economy.
Prime Minister Jan-Dhan Yojana appreciated
The RBI Governor said that 55 crore accounts have been opened under this scheme to ensure participation of people from all classes in the development journey of the country and provide them savings, pension, insurance, loans and other services. He underlined the need to update his details under the ‘Know Knowing’ process’ Know your customer within the stipulated time to prevent the possible misuse of accounts for Pradhan Mantri Jan Dhan Yojana account holders and to find out if they have turned into ‘mule accounts’. The mule account is a bank account which is used for criminals, sometimes without the knowledge of the account holder or sometimes for their connivance, for obtaining, transfer or money laundering. The RBI Governor said that people should improve their digital literacy and financial awareness so that they can save themselves from banking fraud. He urged the public to use digital banking and UPI maximum.
The major role of women in the development of the country
Expressing satisfaction over the important participation of women in the financial inclusion campaign, Malhotra said that she is playing a major role in the development of the country. He informed that currently banking services are being provided through bank branches or ‘business correspondents’ (bank representative providing banking services in remote areas) within a radius of 5 km of almost all villages of the country. The Central Government and RBI started a nationwide financial inclusion campaign on 1 July with the cooperation of banks, which will continue till 30 September. This campaign includes opening new public money accounts, nomination of people under social security schemes and completing the KYC process of account holders. Malhotra asked the banks to expedite the campaign with the help of employees and public representatives of the government department and said that it is still a long way to go in achieving the goals of this mission. State Bank of India (SBI) President CS Shetty was also present in this program.
Also read: Madhya Pradesh on the path of progress: An investment proposal of Rs 3,500 crore came to Gwalior Conference
(Tagstotranslate) Pradhan Mantri Jan Dhan Yojana (T) RBI Governor (T) Indian Economy
