It was in his first Independence Day address after he took office in May last year that PM Modi has announced the Jan Dhan Yojna or bank accounts for all.
"I bow to the wealthiness of the poor. These poor people opened 17 crore accounts and deposited 20,000 crore in them," the PM said. He said the scheme was aimed at strengthening "financial inclusion".
"The doors of the banks were not open for the poor. We decided this must end. We wanted to strengthen financial inclusion," PM Modi said, adding "Bank accounts are essential for integrating the poor into the financial system."
The poor, PM Modi said, are powering Team India, a collective force of 1.25 billion people taking the nation to new heights.
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