J&K Bank, Convenor J&K State Level Bankers’ Committee today organised the launching ceremony of Pradhan Mantri Jan Dhan Yojana (PMJDY) in Srinagar and Jammu Launching function was held here at SKICC, while as in Jammu it was held at Government Women’s College, Gandhi Nagar.J&K Finance Minister Abdul Rahim Rather was Chief Guest here at Srinagar function while as Minister of State (Independent Charge) for Science and Technology and Earth Sciences and MoS for Prime Minister Office Dr. Jitender Singh was the Guest of Honour at the function.One and half crore saving accounts were opened across the country as Prime Minister Narendra Modi launched the country-wide campaign of Pradhan Mantri Jan Dhan Yojana (PMJDY) at Vigyan Bhavan in Delhi. Prime Minister’s Address to the nation was beamed live into the SKICC auditorium.
Earlier, the ceremony began with the lighting of candles by the Chief Guest and Guest of Honour in presence of Chief Secretary M I Khanday and J&K Bank Chairman and CEO Mushtaq Ahmad. Speaking on the occasion, Finance Minister said,
The launch of Pradhan Mantri Jan Dhan Yojna is an important milestone for the financial inclusion programme which has been successfully carried out in the state by the banks.”“Led by J&K Bank, banks in the state have successfully accomplished Financial Inclusion Plan Phase-1 by providing 100 percent coverage to all the 795 villages with population above 2000. Even 80 percent of 5582 unbanked villages have been covered under the phase two of the Swabhiman campaign”, he said.However, he cautioned about the bottlenecks in implementing the huge PMJDY saying, “Success of the programme shall be greatly ensured if the bottlenecks in the logistics and other infra-structural problems are taken care of in advance.”
He expressed confidence that the banks in the state under the leadership of J&K Bank were capable of shouldering the huge responsibilities that the scheme entails.Speaking to the jam-packed audience, Dr Jitender Singh said, “Today is a memorable day for the people of this country. The dream that every inpidual will have a bank account, which gives him/her a sense of inpidual and national identity, is soon to be realized. Prime Minister Narendra Modi has a foresight and vision because he has consistently been focusing on science and economy, which can prove to be real equalizers.”
The efforts of financial inclusion have been there already but Pradhan Mantri Jan Dhan Yojana is a step forward in that direction, he added.Chairman and CEO Mushtaq Ahmad said, “Financial Inclusion has always remained our high priority for promoting inclusive growth and bringing into the banking fold the people who live their lives outside the formal economy and whose daily struggle is still basic in nature and moves around the quest for survival.Reiterating the bank’s commitment to PMJDY, he said, “We will rise to meet the challenge of this comprehensive financial inclusion plan and shall successfully break the perpetual cycle of exclusion and depravity across the state.”
On the occasion, there was a symbolic distribution of welcome kits among beneficiaries that contained RuPay Debit Card, Passbook and literature on financial awareness.The new scheme - an improvement over the current financial inclusion programme envisages Rs 5,000 overdraft facility for Aadhar-linked accounts, RuPay Debit Card with inbuilt accident insurance cover of Rs 1 lac for the account holder and minimum monthly remuneration of Rs 5,000 to business correspondents who will provide the last link between the account holders and the bank.Meanwhile, in Jammu Union Minister for Water Resources and River Development Uma Bharti was the Chief Guest and State Minister for Planning Ajay Sadhotra was the Guest of Honour on the occasion.The function commenced with the lighting of candles by Uma Bharti, Ajay Sadhotra, pisional Commissioner Jammu Shantmanu, Regional Director RBI K K Saraf and J&K Bank Executive President Parvez Ahmad. Underlining the significance of PMJDY, Union Minister Uma Bharti said, “Pradhan Mantri Jan Dhan Yojana is a leap forward for the downtrodden section of society across the country. It is especially a blessing for women folk who would certainly feel empowered through the scheme.”
Self-reliance is what makes a woman really feel empowered and PMJDY is a significant step in that direction, she added. “The scheme seeks to ensure access to financial services by all including weaker sections and lower income groups of the society. Financial inclusion is the first necessary condition for the comprehensive and meaningful development of the country”, said Ajay Sadhotra.
Speaking on the occasion, Executive President Parvez Ahmad said, “Movement towards financial inclusion has been national commitment as well as public policy priority for long, but the plan has got real boost since Prime Minister’s announcement of Pradhan Mantri Jan Dhan Yojana during his independence-day speech.”
“In Jammu and Kashmir, J&K SLBC and especially J&K Bank have adopted inclusive growth as primary objective in decision making, in synchronization with our guiding principle of ‘serving to empower’. And we have always remained at the forefront for economic upliftment and implementation of government programmes”, he said. On the occasion, there was a symbolic distribution of welcome kits among beneficiaries that contained RuPay Debit Card, Passbook and literature on financial awareness. (KNS)