Skip to main content

Pradhan Mantri Jan Dhan Yojna

Touted as one of the biggest bank deposit mobilization schemes in recent times, what is Pradhan Mantri Jan Dhan Yojna?

Nothing. Yes, its just a Prime Minister asking banks to do their jobs, which is all being camouflaged in a PR stunt. Banks in India are notorious for their anti customer behaviour especially if they have less money. Such people are just wasting their time. They are not valuable clients with promises of good diwali gifts. In 1970s all banks in India were nationalised by government for reasons best known to people of those times. But one of the reasons of course was to make banks work for politicians and big businesses. Banks did as masters in Delhi told them and this culture still remains. Customer service is least of priority of any bank.  So if they did have some soft corner for their customers, it would have been easy for people to open bank accounts. And we wouldn't have a Prime Minister, lending the title of his post to a scheme to increase bank accounts.

Also look at so called features of these specially designed bank accounts. Zero balance accounts are already being provided by banks like IDBI. Without cheque book accounts can be easily be opened as per procedure with balance requirement as low as Rs.500 in almost every nationalized bank. So what is new in this Yojna? Just PR and clever advertising.

But still its a good news for India. Even if they don't want to (yes, they point blank tell you that ) open bank accounts for less privileged, the might of Finance Ministry and  prestige of the title of PM of India is ensuring many accounts are now being opened.Even if they make excuses like shortage of plastic cards (in one branch of State Bank of Patiala I learned shortage ran for several months)  they are still processing the accounts.

It is also becoming a back door for money laundry guys, for in an effort to boost volumes, checks are becoming lax and with just one ID card you can open your bank account. Like taking a telecom sim. Again, I say, shouldn't that be the case for all types of banking. Simplified, less bureaucratic but good on security too?

I hope, the new government after done with its PR mumbo jumbo, will push this as just not a yojna but a reform to make Indian banks especially public sector banks more customer centric.


Popular posts from this blog


IN A 5 – STAR HOTEL GUEST ROOM:- 1. BED:- 1. Mattress (1) 2. Maters protector (1) 3. Bed sheet (2) 4. Night spread (1) 5. Blanket (1) 6. Pillows (2) 7. Bed cover (1) (Boisters) 2. ENTRANCE DOORS:- 1. Lire exit plan 2. DND card on the door know 3. Collect my laundry card 4. Please clean my room card 3. WARDROBE:- 1. Coat hangers 2. Skirt trouser hangers 3. Laundry bags 4. Pot 5. Extra blanket and pillows 6. Bed slippers 4. LOUNGE :- 1. Sofa,
चाहने वाला हूँ तेरा, देख ले दर्द ज़रा; तू जो वेइखे एक नज़र कारा लखान दा शुक्र सोहनीये! देख तू कह के मूझे , जान भी दे दूंगा तुझे; तेरा ऐसा हूँ दीवाना, तुने अब तक ये ना जाना हीरीए !!! --------------------------------------------- आ सोनी तेनू चाँद की मैं चूड़ी पहरावा, मैनू कर दे इशारा ते मैं डोली ले आंवा !!!

Does India Need communal parties?

I think, it was Tan's post on this blog itself, Republic Day Event, where this question was raised. My answer. YES. we need communal parties even in Independent, Secular India. Now let me take you, back to events before 1947. When India was a colony of the British Empire. The congress party, in its attempt to gain momentum for the independence movement, heavily used Hinduism, an example of which is the famous Ganesh Utsav held in Mumbai every year. Who complains? No one. But at that time, due to various policies of the congress, Muslims started feeling alienated. Jinnah, in these times, got stubborn over the need of Pakistan and he did find a lot of supporters. Congress, up till late 1940's never got bothered by it. And why should we? Who complains? No one. But there were repercussions. The way people were butchered and slaughtered during that brief time when India got partitioned, was even worse than a civil war scenario. All in the name of religion. And there indeed