Dear Editor,
Considering the fact that only 58 per cent of Indian households have access to banking services, the proclamation by the Prime Minister in the course of his Independence Day speech, envisioning the never-before-attempted task of bringing the financially excluded strata of society into the banking fold, has paved the way for millions to have a savings account in their name.
The practice of holding on to hard-earned money or entrusting it to somebody trustworthy has often resulted in many vulnerable folks being swindled of their savings. This is especially common among workers from the unorganised sector.
The Pradhan Mantri Jan Dhan Yojana, now implemented, should be seen as a ray of hope for those millions who can secure their life’s earnings through savings accounts in banks.
With an Aadhaar card proof enough to open a zero-balance account with any bank, public or private, and the scheme offering a couple of freebies too, the account holder is in for a bonanza of sorts.
Shalini Thakur
Jammu
