Thirty-five year old Gomati from Mangatpur in Pilibhit has opened a bank account under Jan Dhan, but she is skeptical about its use. "There is no money in it. I am confused. What will I do with it?" she said tersely when asked about her bank account. Gomati is not alone. Hundreds of women spoke in unison at the five-day financial literacy programme conducted by Skoch Group at Pilibhit, a picturesque Himalayan plateau rich with flora and fauna, but one of the economically backward regions in Uttar Pradesh
The new government has started an ambitious financial inclusion plan that aims to bring every household under the banking net by 26th January 2015. Financial inclusion has been a buzzword for quite some time.
Even a decade back, Madhya Pradesh was counted as one of the backward or "bimaru" states along with Bihar, Uttar Pradesh and Rajasthan. But Shivraj Singh Chouhan seems to turn the disadvantage in opportunity -- MP now ranks among fastest growing states and may be a trendsetter for social and inclusive development.
The benefits of RuPay Debit cards, insurance and overdraft facilities associated with accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY) will also be applicable for Cooperative Banks accounts opened under the scheme, according to top Finance Ministry officials.
In a bid to increase insurance density and coverage with special focus on the rural areas, the Ministry of Finance has embarked on a project of financial inclusion to provide banking and other financial services like life and non-life insurance to the rural population.