In just a week after the launch of the Prime Minister Jan Dhan Yojana or PMJY, Madhya Pradesh seemed to have taken a lead in its implementation. Nearly 13.85 lakh bank accounts have been opened of which almost 10 lakh are in rural areas.
On August 27, Prime Minister Narendra Modi and his Cabinet colleagues had launched the PMJY scheme as one of their flagship events to promote financial inclusion and bring everyone under the banking system.For Madhya Pradesh, the target was to open around 40 lakh bank accounts by 26 January, 2015. But the State has already achieved one-third of its target. And officials give credit to the State Government.
Ashok Kothari, the lead bank officer of Shivpuri district says, “We started working on the scheme two or three days ahead of the launch on August 28. We publicised it and also each bank kiosk in the district had a target of opening 150 accounts. This was done in all districts of state and this way 7-8 lakh accounts were opened and the remaining came to us due to publicity of the scheme.”
Jan dhan Yojaya is basically a drive to speed up the financial inclusion scheme which has been progressing at a snail’s pace in the country. Insurance cover and over draft benefits certainly seem to be acting as a catalyst. However there are a few terms and conditions which apply. For instance, to avail an overdraft, the person’s account should be active for at least six months.
And at this stage insurance aspect of the scheme is even unclear to the bankers. Kothari says, “We still are awaiting details about the life insurance and accidental insurance. At the moment there is no clarity about how much premium is to be paid to the insurance company. Those terms are yet to be discussed by the government and companies.”
Madhya Pradesh is already pioneer in production of pulses, oilseeds and gram. As a result of these achievements, Madhya Pradesh has been conferred prestigious Krishi Karman Award for last 2 years in a row. The state has also bagged Agriculture leadership Award.
Side by side apprising farmers of better farming technique, they are also being provided good implements. A number of farmers have been sent on foreign tours to learn new techniques. Custom hiring centre scheme has been launched in Madhya Pradesh to make available benefit of costly agricultural machinery to farmers. They are also getting better equipment through Krishi Yantradoot Yojana.
Special schemes have been started for small and marginal farmers. Arrangements have been made for advance storage of fertilisers. Fertilisers have been imported and provided directly to farmers. For better coordination between agriculture and allied sectors, Agriculture Cabinet has been constituted whose decisions are considered cabinet decisions.Special attention has been paid to increase irrigation facility. Novel scheme like Balram Talab has been launched for effective use of rainwater in farming.