Kerala became first state with bank accounts for all families

Kerala Finance Minister KM Mani has announced that Kerala has become the first state in the country to have bank accounts for all families under Pradhan Mantri Jan Dhan Yojna (PMJDY). This formal declaration was by minister at the State-Level Bankers’ Committee (SLBC) meeting in Thiruvananthapuram.
Under the PMJDY, Kerala has opened about 13 lakh new accounts and has mobilised 326 crore rupees through intensive financial literacy campaigns launched under the support of the State Level Banker’s Committee (SLBC).
Kerala was able to achieve this target under PMJDY ahead of schedule because of Financial Literacy Centres which are active in all the 152 blocks of state. Under this scheme, 5.25 lakh rupees debit cards have been issued by all banks.
State government is also opening a second account separately for the woman in each household under PMJDY.

Month: Current Affairs - November, 2014