Dr. U S Awasthi, Managing Director of IFFCO has pitched his support for the Pradhan Mantri Jan-Dhan Yojana launched by Narendra Modi on Thursday. The ambitious project aims to include 7.5 crore people in the financial system.
Besides the launch function at Delhi, simultaneous launch functions of the Yojana were also held in the Capital and other major centres of the State and at all district Headquarters. Pitching his bit IFFCO MD requested his employees to avail the unheard of scheme and be partner in the Modi’s dream project.
Awasthi tweeted: #PM jandhan yojna is best form of #financial connectivity. request all #iffco members to avail benefit b4 26January to get health cover also.
In Delhi the project was launched at Vigyan Bhawan. The Finance Minister Arun Jaitley, Minister of State for Finance Ms Nirmala Sitharaman, Principal Secretary to Prime Minister Nripendra Misra, Cabinet Secretary Ajit Seth, Governor, RBI Dr Raghuram Rajan and other senior dignitaries were present on the occasion.
Awasthi also felt that this move by the PM would help cooperatives and cooperators to come together as he twitted: @PMOIndia certainly by this innovative scheme close knitted family of #cooperative #IFFCO & it’s members will get huge benefit.
The Prime Minister said that the target to cover 7.50 crore households with at least one account under the Yojana will be achieved by 26th January, 2015. Elaborating the benefits under PMJDY, the Prime Minister said this was not a mere bank account, but had other benefits including an RuPay debit card, Rs 1 lakh accident insurance cover, and an additional Rs. 30,000/- life insurance cover for those opening bank accounts before January 26th, 2015.
However, cooperative banks and urban cooperative banks which have the highest penetration in the unbankable segment of population received no mention in the PM’s speech. The task of reaching out to poor in both rural and urban areas can be best achieved through them, said a cooperator to Indian Cooperative.
Nafcub President M L Abhyankar, however did not respond to a texted query from the Indian Cooperative.
