Karnataka CM launches PMJDY; says fin inclusion idea not new

Karnataka CM launches PMJDY; says fin inclusion idea not new

Karnataka CM launches PMJDY; says fin inclusion idea not new

Launching the Pradhan Mantri Jan Dhan Yojna (PMJDY) in Karnataka, state's Chief Minister Siddaramaiah today said the idea of financial inclusion is not new and there is a need to create an environment for the poor to lead a respectful life by equal distribution of wealth.

At the state level launch of the scheme here, he said the it was announced by the Prime Minister Narendra Modi in his address to the nation on Independence Day with the intention of financial inclusion.

"If the financial and social situation of citizens improves, only then can the country progress. This idea is not new; financial situation of downtrodden, poor and under privileged in this country should improve.

"They have to come out of poverty. An environment should be created in which they too can enjoy respectful life. This is what has been mentioned in our constitution- equal rights and opportunities for all," he said.

He said this can happen only when the wealth and power in this country is equally distributed among all." Unless this happens it is difficult get rid of economic and social inequality; ...with this intention of providing banking opportunity for all Indira Gandhi nationalised banks."

Stating that only after nationalisation did the banks start looking at poorer sections of society, he said "till then poor, labourers and farmers did not have much opportunity to avail bank facilities by opening their accounts."

The state-level launch programme of PMJDY was simultaneously held as Prime Minister launched the scheme at the national level in New Delhi.

PMJDY aims to achieve comprehensive Financial Inclusion to provide affordable financial services to all citizens within reasonable distance.

Under the scheme every household in the country is targeted to be provided at least one basic savings bank deposit account, preferably in the name of female member of the family.

Stating that in Karnataka about 80 per cent people have bank accounts, he said "the reason for this is various social and economic pro people programmes initiated by the government here."