 "IDBI Bank to open 0.2 mn savings accounts by Aug 28 as part of Jan Dhan Yojana")
IDBI Bank is planning to open more than 2,00,000 basic savings accounts under 'Pradhan Mantri Jan Dhan Yojana' plan, which will be launched by the Prime Minister on August 28, 2014.
On the occasion of Independence Day, PM Narendra Modi announced the launch of 'Pradhan Mantri Jan Dhan Yojana', a national mission on financial inclusion ensuring access to banking services to all citizens and adequate credit to the underprivileged section of the society.
Under this plan, each account holder will be provided with passbook and RuPay Debit/ATM card which carries free accidental insurance cover of Rs 1 lakh. Further, an overdraft of Rs 2000 will be provided to each account holder after satisfactory operation in the account for 6 months."