From Our Special Correspondent
Daijiworld Media Network - Bangalore

'80% households in Karnataka already covered'

Bangalore, Aug 28: Karnataka Chief Minister Siddaramaiah launched Prime Minister NarendraModi’s Jan Dhan Yojana in Bangalore on Thursday.

However, he said Karnataka has already been able to cover 80 percent of the households in the State under the banking system as against the national average of 58 percent.

Speaking after launching the Pradhan Mantri Jan DhanYojana or the National Mission on Financial Inclusion at the banquet hall of VidhanaSoudha, he asked the banks to be more liberal in sanctioning loans to the families below poverty line.

The Jan Dhan Yojana envisages universal access to banking facilities for all households across the state through a bank branch or a fixed point Business Correspondent (BC) within a reasonable distance.

It covers all households with at least one basic banking account with debit card having inbuilt accident insurance covers of Rs 1 lakh.

An overdraft facility up to Rs 5000 would also be permitted to Adhaar enabled accounts after satisfactory operation in the account for six months.

Prime Minister Narenra Modi launched the Yojana in Delhi, which is being simultaneously implemented across the country.

Chief Minister and banking officials watched the live telecast of the of launch programme.

Union Minister for Chemical and Fertilizers Ananth Kumar said 7 lakh poor households’ accounts were opened in banks in the State during the last 12 days.