Modi gets a pat on back for Jan Dhan

US President Barack Obama Sunday lauded Prime Minister Narendra Modi on the success of Jan Dhan, the world’s largest financial inclusion programme that surpassed its target before the stipulated time set by the government.

Obama commended Modi’s scheme to prioritise financial inclusion for India’s poor, a joint issued after the meeting of both the leaders said. Jan Dhan Yojana which recently secured a place in the Guinness Book of World Record for being the world’s largest financial inclusion initiative achieved in quickest for listing out government’s achievement on the most ambitious financial inclusion plan.

The scheme was launched on August 28 and at that time the government had given banks the deadline of January 26, 2015 to open 10 crore accounts. However, banks achieved the target set by the government a month before the January 26 deadline with Rs 9,000 crore already deposited in Jan Dhan accounts.

 The government will now take a view on the expansion of the scheme on Monday, January 26. Obama also lauded other economic reforms being undertaken under the Modi government.“We welcome the reforms that the prime minister is pursuing to make it easier to do business here in India," Obama said.