PM to launch ‘Pradhan Mantri Jan Dhan Yojana’ on Aug 28
27082014
Pradhan Mantri Jan Dhan Yojana’, an ambitious financial inclusion scheme under which the government intends to provide every household with a bank account and insurance cover, will be launched on 28th August by Prime Minister Narendra Modi.
The scheme, about which Modi made the announcement in his Independence Day speech, will be launched across the country simultaneously amid his emphasis that it lies at the core of “our development philosophy of ‘Sabka Sath Sabka Vikas'”.
The scheme, about which Modi made the announcement in his Independence Day speech, will be launched across the country simultaneously amid his emphasis that it lies at the core of “our development philosophy of ‘Sabka Sath Sabka Vikas'”.
As a first step, under the scheme, every account holder will get a ‘RuPay’ debit card with a Rs one lakh accident cover.
“As we go along, they will be covered by insurance and pension products,” the Prime Minister said today while announcing the decision about the launch.
Modi, who has sent an email to all bank officers, said bank account for each household is a “national priority” and they should try their best to ensure that no one is left without a bank account.
Describing the task as “gigantic,” he said, “We need to enroll over 7 crore households and open their accounts.
This is a national priority and we must rise to meet this challenge.
There is an urgency to this exercise as all other development activities are hindered by this single disability.
The Prime Minister, Shri Narendra Modi will formally launch Pradhan Mantri Jan Dhan Yojana (PMJDY) on Thursday, 28th August, 2014 at a function in the national capital. Besides the launch function at the national capital, simultaneous launch functions of the Yojana would also be held in the State Capitals and other major centres of the States/UTs and all district headquarters. About 76 mega functions will also be organized at prominent places throughout the country to mark the launch of Yojana which will be attended by the Union Ministers and the State Chief Ministers along with other dignitaries.
In order to mark the launch of this mega scheme, different branches of the Public Sector Banks will organize more than 60,000 camps in rural and urban areas on that day. It is estimated that about one crore accounts will be opened on this day. These camps will be successful because preparatory camps have already been organized in order to get the required information from the new account openers.
The Prime Minister had also sent about 7.25 lakhs emails to all bank officers referring to his Independent Day announcement of the PMJDY- a national mission on financial inclusion with the objective of covering all households in the country with banking facilities and having a bank account for each household.
Financial literacy has been accorded priority under the PMJDY. A standardized financial literacy material has also been prepared in vernacular languages to create awareness about the Yojana. It is estimated to cover 7.5 crore households with atleast one account under this Yojana.
The Pradhan Mantri Jan Dhan Yojana lies at the core of our development philosophy of Sab Ka Sath Sab Ka Vikas. With a bank account, every household gains access to banking and credit facilities. This will enable them to come out of the grip of moneylenders, manage to keep away from financial crises caused by emergent needs, and most importantly, benefit from a range of financial products. As a first step, every account holder gets a RuPay debit card with a Rs 1,00,000/- accident cover. In due course, they are to be covered by insurance and pension products.
Highlights of the scheme :
- The Prime Minister will launch the National Mission on Financial Inclusion named as Pradhan Mantri Jan Dhan Yojana(PMJDY) on 28th August, 2014.
- The Mission will be implemented in two phases.
- Phase-I from 15thAugust 2014 to 14th August 2015 envisages
(i) Universal access to banking facilities for all households across the country through a bank branch or a fixed point Business Correspondent (BC) within a reasonable distance
(ii) To cover all households with atleast one Basic Banking Accounts with RuPay Debit card having inbuilt accident insurance cover of Rs.1 lakh. Further an overdraft facility upto Rs.5000 will also be permitted to Adhaar enabled accounts after satisfactory operation in the account for 6 months.
(iii) Financial literacy programme which aims to take financial literacy upto village level.
(iv) The Mission also envisages expansion of Direct Benefit Transfer under various Government Schemes through bank accounts of the beneficiaries of.
(v) The issuance of Kisan Credit Card (KCC) as RuPay Kisan Card is also proposed to be covered under the plan.
- Phase-II from 15thAugust, 2015 to 14thAugust, 2018
(i) Providing micro –insurance to the people.
(ii) Unorganised sector Pension schemes like Swablamban through the Business Correspondents.
- The major shift in this programme is that households are being targeted instead of villages as targeted earlier. Moreover both rural and urban areas are being covered this time as against only rural areas targeted earlier. The present plan pursues digital financial inclusion with special emphasis on monitoring by a Mission headed by the Finance Minister.
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NMML Public Lecture_ Prof. K. Vijayraghavan _28 August, 2014
27082014
From: ccsnmml5 <ccsnmml5@gmail.com> Wed, 27 Aug ’14 1:20p
To: undisclosed-recipients:;
Show full Headers
The Nehru Memorial Museum and Library
cordially invites you to a Public Lecture
(in the ‘Science, Society and Nature’ series)
at 5.00 pm on Thursday, 28th August, 2014
in the Seminar Room, First Floor, Library Building
on
‘A Disconnect in Need of Urgent Repair:
Scientific thinking and policy-making’
by
Prof. K. Vijayraghavan,
Department of Biotechnology,
Government of India,
New Delhi.
Abstract:
In this lecture, the speaker will address a global problem. Governments, the world-over, aim to serve people through crafting of policy. Scientific evidence can play a key role in policy making. Science is not the only component in policy-making, indeed it is usually a minor one. Several other factors, social, historical and economic perhaps play far more important roles. Yet, disconnecting science and evidence from policy making can have disastrous short and long-term consequences. The speaker will draw from examples where science has had deep (positive and negative) consequences in our lives through policy, and attempt to extract lessons for the future of our planet.
Speaker:
Prof. K. VijayRaghavan is Secretary, Department of Biotechnology, Government of India and Distinguished Professor at the National Centre for Biological Sciences (NCBS) of the Tata Institute of Fundamental Research (TIFR) in Bengaluru, India. Prof. VijayRaghavan is a Fellow of the Indian Academy of Sciences and the Indian National Science Academy, the Royal Society and a Foreign Associate of the US National Academy of Sciences. He studied engineering at the Indian Institute of Technology, Kanpur, from where he received the Distinguished Alumnus Award. His doctoral work in molecular biology was at TIFR, Mumbai, India and postdoctoral work at the California Institute of Technology, USA.
All are welcome.
Those wishing to have their names added to the email list may please email us at nmmldirector@gmail.com.
Web links to programmes for 2014:
Audio links of Public Lectures:
NMML Posters Link (Posters linked to the calendar):
Occasional Papers Links:
Facebook Link:
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Japan visit will take ties to new level: PM
27082014
Prime Minister Narendra Modi on Tuesday said his upcoming visit to Japan will take bilateral ties to a “new level”.
Modi will visit Japan from August 30th to September 3rd. The trip was earlier scheduled to begin on August 31st.”On Aug 30, I will begin my visit to Japan. I am keenly looking forward to the visit, which will boost relations between our two nations,” Modi said in a statement on Tuesday.
The prime minister said the visit will be his “first bilateral visit outside the subcontinent”.
“I was to visit in early July but could not due to the parliament session. I see the Japan visit as an opportunity to take our ties with Japan to a new level and increase cooperation in various fields,” Modi said.
“(I) am particularly excited to meet Prime Minister Shinzo Abe. I deeply respect his leadership and enjoy a warm relationship with him from previous meetings,” he said.
The prime minister will visit Tokyo and Kyoto.
Modi said that during his visit he will interact with “all sections of Japanese society from students, political leaders to captains of industry”.
“(I) have very warm memories of visiting Japan as a chief minister. The hospitality and the immense scope for cooperation left a deep impression on my mind,” he said.
He said the “scale of innovation” and “level of precision” among the people of Japan is admirable.
Both our nations can learn a lot from each other. “Japan’s friendship with India is time-tested. We are two vibrant democracies committed to advancing peace and prosperity in the world,” he added.
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Categories : culture, Politics
‘We will defend our sovereignty in the Arctic’
27082014
Arctic region is again in the news for its oil rich reason than the co-operation .As per Danish newspapers reports , Canada is ready for a confrontation with Russia if it expands its ambitions in the Arctic region, Foreign Minister John Baird told a Danish newspaper. The oil-rich region is set to become a key political battleground in the coming decades.
“We are deeply concerned, and we are determined to promote and defend the sovereignty of Canada in the Arctic,” Baird said in an interview with the Danish publication Berlingske, published in the native language.
“For us, this is a strategic priority. In connection with the militarization that we are seeing, we would prefer to alleviate the conflict, but it’s clear that we will defend our own sovereign power.”
Russia, last year unsealed a long-mothballed base on Novosibirsk Archipelago, off the north-eastern coast of the country, which has since then reinforced the area with warships and icebreakers that now constitute a coherent defense system. Moscow and Ottawa also engaged in a frosty exchange earlier this summer, after Canada scrambled its fighter jets to tail Tu-95 heavy bombers, which it said came close to its airspace.
“We have seen Russian provocations in the Arctic for decades, so there is nothing new under the sun,” said Baird, when questioned about the incidents. “We call once again upon the countries of the Arctic Council to sit down and solve problems constructively.”
Canada however already boycotted the high-ranking Moscow Arctic Council conference earlier this year, and with harsh rhetoric, a further escalation seems inevitable.
Baird’s statements echo the alarmist tone of his Prime Minister, the Conservative Stephen Harper.
“I just think we should not be complacent, because we have seen over the period that President Putin has been in power just a gradual growing in aggressiveness of his government toward neighbors and the gradual military assertiveness of that country, and I just think it’s something we should never be too at ease about,” the politician told the media last week.
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FM Launches New Website of PFRDA
27082014
Releases Its First Annual Report; Says the Pension Reforms will Help in Releasing Resources for Better Deployment and Utilisation in other SOCIAL SECTORS
The Union Finance Minister Shri Arun Jaitley said that to build a consensus on issues such as pension across the political spectrum is not easy. He said that the Pension Fund Regulatory and Development Authority (PFRDA) legislation has however gone through a process of guided development and adequate sensitisation. He highlighted the important aspects and implications of pension reforms, a key area of financial sector and economic reforms in the country. He said that an amendment to the Insurance Act to enhance the limit of FDI to 49% will also mean similar provision for the pension sector. The increase in the FDI limit to 49%, will permit inflow of foreign capital, investment expertise and new technology.
The Union Finance Minister Shri Arun Jaitley said that to build a consensus on issues such as pension across the political spectrum is not easy. He said that the Pension Fund Regulatory and Development Authority (PFRDA) legislation has however gone through a process of guided development and adequate sensitisation. He highlighted the important aspects and implications of pension reforms, a key area of financial sector and economic reforms in the country. He said that an amendment to the Insurance Act to enhance the limit of FDI to 49% will also mean similar provision for the pension sector. The increase in the FDI limit to 49%, will permit inflow of foreign capital, investment expertise and new technology.
The Finance Minister Shri Jaitley was speaking after launching a new user friendly and informative website of PFRDA at First Pension Conclave held here today. The Finance Minister also on this occasion released the First Annual Report of PFRDA for 2013-14 post notification of the PFRDA Act. Releasing the Report, the Finance Minister hoped that the Regulatory Authority would provide a conducive and enabling environment for expansion in pension industry with larger number of players.
The Union Finance Minister Shri Arun Jaitley said that considering that pension pay-outs, particularly unfunded and uncertain are to be borne by the Public exchequer, the pension reforms will mitigate this burden releasing resources for better deployment and utilisation in other social sectors. He highlighted the need to build up corpus of funded resources to eventually act as the source for pension pay outs in future, and also as a source for financing critical sectors as infrastructure and also capital market.
Highlighting the importance of NPS Swavalamban scheme for the unorganised sector people, the Union Finance Minister Shri Arun Jaitley said that this segment requires special support and he urged PFRDA to promote this scheme vigorously across the country. Expressing confidence about the role of PFRDA in promoting Swavalamban Scheme, he expressed that the scheme signifies an element of self-pride through participation of the less fortunate and excluded segments. The Finance Minister expressed confidence that the regulatory authority will formulate regulations for sound and sustainable growth of the pension system with due regard to the interest of the subscribers including setting-up an efficient and responsive grievance redressal mechanism, He exhorted the industry to come up with more and more new products which could compete with each other with benefit accruing to the pension subscribers.
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Invitation to Launch of Boondein: Celebrating Budget Private Schools
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Peak Meat Production Strains Land and Water Resources:
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Join me in demanding a change – Daler Mehndi
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