A special camp was held here on Thursday to open bank accounts under the Pradhan Mantri Jan Dhan Yojana scheme. All the bank branches in the district also opened accounts under the scheme on Thursday.
Households that do not have a bank account will be covered under this scheme. Beneficiaries can open an account in a public sector or private bank. The accounts will be opened on the same day of submitting the application. Some of the features of the scheme are: zero balance, simplified procedure, accident insurance cover, and in-built overdraft with limit up to Rs. 5,000 (after six months).
Preparatory camps and awareness campaigns were held across the district. It is an ongoing scheme, an official explained. The official also said that though a function was planned here on Thursday for distribution of passbooks to those who had opened bank accounts under the scheme, the event was cancelled owing to the Model Code of Conduct coming into effect in view of the Mayor’s election scheduled for September 18.
In Tirupur district, coordinated by the Lead Bank, the entire public sector and private sector banks commenced the account opening drive through special camps.
“Apart from opening the bank accounts, the customers are also being extended overdraft facility up to Rs. 5,000, depending on the satisfaction of transactions, and given RuPay debit card with in built Rs. one lakh accident insurance cover,” Lead Bank District Manager V. Ganesan told The Hindu .
The scheme had incorporated certain improved features to iron out the deficiencies in the earlier financial inclusion programmes.
The scheme would continue till August next year and the second phase of the mission that commences in 2015 would cover micro insurance and pension schemes too, banking sources said.
