Modi's Jan Dhan Model Receives Worldwide Following

BANGALORE: One of the major initiations by PM Narendra Modi was Jan Dhan Yojna, India become a fully banked country, a feat commended by the Guinness Book of World Records for being accomplished in the short span of about five months. And it seems Jan Dhan Yojna will be implemented all over the world.

According to a report published in The Economic Times, the Financial Action Task Force, a global anti-terror financing agency has accepted the paper which demonstrates how they achieved this target in a very limited span of five months.

According to government official, “We have informally given a presentation on the contours of KYC followed under the PMJDY (Pradhan Mantri Jan Dhan Yojana) programme. A proposal has now been approved to study as to how India did it in form of a best practices paper," reports ET.

The major countries in the world like U.S., Russia, Spain and the Netherlands have extended support to the paper.

Apart from transfers worth 51, 029 crore under various welfare schemes and rural jobs programme, cooking gas subsidies were also being transferred to 15.34 active consumers. This was a part of the plan to link it with bank accounts under a modified direct benefit transfer for LPG from January 1. The government has already pay out 6, 688.98 crore to 8.03 crore LPG customers up to January 14 and the figure could go up to 25, 000-30, 000 crore annually.

The very reason why Pradhan Mantri Jan Dhan Yojana (PMJDY) was a mega success because the government doubled the personal accident cover to 2 lakh per person if the bank account is opened within the first 100 days of the massive financial inclusion programme being launched.

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