The BJP Government's two phase financial inclusion mission--Pradhan Mantri Jan Dhan Yojana--will be rolled out on August 28.

A launch function to be presided over by the Prime Minister Narendra Modi and his senior cabinet colleagues is slated for that day in the capital, sources close to the development said.

Simultaneously, launch events will be organised on that day in various state capitals and several districts.Prime Minister Narendra Modi had in his independence day speech announced that a Jan Dhan Yojana will be launched to financially include the unbanked households of the country.

The Pradhan Mantri Jan Dhan Yojana is proposed to be implemented on a mission mode basis in two phases.

The objective will be to bring 7.5 crore unbanked families into the banking system fold through opening of 15 crore bank accounts (two accounts for every household) in financial year.

After a span of six months from the date of opening of the bank account and depending on the activity in the account, banks could even extend an overdraft of say Rs 2,500 to the account holder.

This overdraft amount could then be enhanced to Rs 5,000, a banker said.

The Government is also planning to roll out an ad campaign for the new financial inclusion scheme.

>srivats.kr@thehindu.co.in

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