Pradhan Mantri Jan Dhan Yojana

Nicked as PMJDY, which  is considered as the first major break through from the Namo led Government is the new buzz in the country. Before getting deep into it lets have a basic understanding about this scheme, but dont forget that all the details are not available yet, we only had a teaser lol!!

What is PMJDY

Its a scheme which encourage the people to open bank accounts and through which financial inclusion is realised.

Aims of the scheme in phases

Phase I (15^th August ,2014-14^th August,2015)

• Universal access to banking facilities
• Providing Basic Banking Accounts with overdraft facility of Rs.5000 after six months and RuPay Debit card with inbuilt accident insurance cover of Rs. 1 lakh and RuPay Kisan Card
• Financial Literacy Programme

Phase II (15^th August 2015-15^th August,2018)  

• Creation of Credit  Guarantee Fund   for coverage of defaults in overdraft  A/Cs
• Micro Insurance
• Unorganized sector Pension schemes like  Swavlamban.                                                     

How its done ?

• All the rural & semi urban areas of the country is proposed to be mapped into Sub Service Area (SSA) comprising 1000-1500 households with an average 3-4 villages with relaxation in NE/ Hilly states.

• It is also proposed that looking to the viability of each centre around 74000 villages with population more than 2000 which were covered by Business Correspondents under Swabhiman Campaign will be considered for conversion into full fledged Brick & Mortar branches with staff strength of 1+1/1+2 in the next three years.
•      All the 6 lakh villages across the entire country are to be mapped according to the Service Area of each Bank to have at least one fixed point Banking outlet catering to 1000 to 1500 households, called as Sub Service Area (SSA)
• It is proposed that SSAs shall be covered through a combination of banking outlets i.e branch banking and branch less banking. Branch banking means traditional Brick & Mortar branches. Branchless banking comprises of fixed point Business Correspondents agents, who act as representative of Bank to provide basic banking services.   

 Analysis  

I consider this as a good move by Mr Modi , even though this is called as the backdoor entry of Adhaar card, this is much better than that because this scheme has a well defined objective and sets its target and aggressive implementation place this scheme a step ahead of Adhaar scheme.

•  Even if this didn't achieve the desired result, still  it will be revolutionary to bring in people under the financial net which will be very beneficial in the long run, the main dream of  converting  cash economy into a cashless and digital economy will be made possible.
  
• the weaker section especially the women will be empowered through this scheme, given the affinity  of the Indian towards savings will be utilized for greater cause.
  
  
• this might reduce the people falling in the traps of money lenders and the Backward and tribal areas will be definitely benefited.
  
  
• Under 10 % of the people of India is under insurance cover , this scheme will help to bring the people under insurance cover and help them in unforeseen events
  
  
• financial literacy of the country will improve and people participation in the financial activities will increase. Banking will be  no more a myth and as rightly said by our PM "  It will be the beginning of the end of financial untouchability in India "   
• In future it is known that all the welfare schemes will be linked to this account and it will prevent the leakages and this avoid the exploitation of the brokers and middleman. 

Downside

• In the paper this scheme looks brilliant and promising but just like other plans , Its success also depends on how well it is executed and manged. This scheme is having many challenges before it, lets look into them
• In the last UPA regime Direct cash benefit scheme and some steps for financial inclusion had created thousands of New bank accounts in which at least half of them is dormant now, since the operating cost of the account has shooted up, the mere increase in dormant account without a decent flow will make a negative impact in the banking sector and the burden will add more burden to the exchequer which is already in vulnerable condition. The Non Performing Assets and Bad debts will put the industry in trouble.
  
• Another biggest challenge is to make them people fully aware of this scheme and making them a financial literate, with a considerable amount of people is still illiterates, making them aware of basic banking is the key for the success of the projects. The banks should not focused in opening accounts in large number instead it should focus on increasing the awareness.
• Demand Supply Gap. For the set target the current infrastructure of the banking is not sufficient to provide the desired service or results,  new branches, new ATM centers, new Business correspondents all has to be increased  by a considerable margin ,and it all requires huge investment and if they didn't pay off it will set off serious consequences.
• Lack of clarity in certain areas, such as financial viability of maintaining large number of accounts, the yet to prove business correspondance model, and source where the funds would be diverted from to finance it. Some news reports suggest that the overdraft facility will be guaranteed by an Rs 1,000 crore fund from NABARD. But this may not be sufficient if the overdraft facility really takes off.
  
  
  
  
  Conclusion
  
  
  As we hope for the best for this aggressive scheme lets not forget the challenges it pose and I also believe that the experts panel find  the loopholes and plug them as soon as possible and frame it more efficiently . In the mean while we as responsible citizen promote this scheme and help other to understand this scheme and make the dream of Digital economy comes true.
   
  

Daily news

Hi all..

 From today onwards I am happy to present you the important  news and analysis.. Hope I ll be having  your support as usual. Thanks.

Do these people know about the term Pro-Active!!

What these people did to be burnt!! Other than tusting the Government services

Poor maintenance and negligence



Indian Railways.. Most accident prone



Indian Railways..

Indian Railways may be the biggest rail network in asia, largest employer in India, but is that enough to be in the business,Indian railways nearly carry 13 million people a day, the safety of the people is always questionable ?

•  Minimum number of releif train
•  Most poor maintenance
•  Most frequent accidents
•  No disaster management devices
•  No sensors,fire control devices
•  Poor management and administration

The accident the happened in Tamil Nadu Express was waiting to be happening, I am sure there are many such trains that are waiting to kill more people...

There are not even anti collision devices in our system. The project was approved recently and still has to start, that too to be implemented in two phases. There has been never any significant acheivement in security standards.The Goverment has never been given importance to people life until things like this happens.. something has to be done.Will they ever be Pro-Active!!

ASSAM RIOTS..

Assam Riots..

Assam Burning?

 Communal riots between two groups,, the Government had not taken any significant step to control to bring down the violence. The chief Minister nor the Home Minister showed any real intention to bring the riots under control. The vote bank politics , lack of police force, or lack of intention to bring down the riots. The chief minister has asked the journalist not to write as " Assam Burning", if he feels ashamed to see his state written like this then he should has done enough to stop this , so that there is no need for him to request the journalist. Again whats missing here is Pro-Active!!


POWERLESS NORTH INDIA..

 An unidentified reason for the power grid failure in the norther part of India , created worst powers shut down of the decade. The trains were stranded,Hospitals switched on to emergency mode, people were left clueless about what is happening, The goverment claim that most of the areas were restored with power, but

• Why this happened in first place,
• If states were drawing more power, where is the System to monitor and control that
• Is the lack of stringent measures against the state caused this
• Why does it take this long for restoration
• Why there is no contingency plan to tackle these issues

MEASURES TO TACKLE DRAUGHT

With monsoon promply failed this time too,, and the researchers predicting a possible draught, what steps has been taken in the ministrial level,

• Proposal for dams that threaten to affect the Irrigation in south India
• The reserves has been checked up and stored properly
• Back-up measures has been in place
• The states were advised to be in alert condition
• Is there any system in place to check price rise and inflation of essential food grains due to possible draught.

  My sincere prayer is, goverment should not be lethargic in this issue, so far the commoner has less complication  in getting food grains even if he has to pay high,, but the poor management should not let this hope die,,

My question is whers is the Pro-activeness!!

Its not this hole,, that let the girl die..

Its not this hole that let the kid die in a most disturbing way. The reality is much bigger than this, this incident has brought the corrupted system and officials in the limelight again.

Sitting back and imaginig about the accident will definitely bring tears, a sheet of metal or a piece of wood, or a very little precautionay measure of not letting the kid sitting in the seat would have made a very big difference to their parents life.

Whom has to be blamed now?

 > The Government Officials for having inspected the vehicles properly

> The school administration for not keeping an eye on bus safety standards

> The driver and cleaner for not taking any measures to cover up the hole

With the rise in the number of children death , remarkably in the past week, has raised a question about the safety of children in India. Frequent borewell deaths, sexually abused childrens, children kidnapping, where are things headed up to???

Things will be happening like this till the common people are concerned with themself and blame others.. Its time to stop talking and start acting..

Save India.....

Jai Hind..

Happy Birthday Sachin!!

within a day since i started this blog, my keyboard and mouse stopped working, but i cant resist myself from wishing the batting mastero in his 37 th birthday, so iam writin this using on-screen keyboard.. what to write about this man??? his commitment towards the game,his expertise in cricketing techniques,the unknown side of his helping hands,no author can satisfy the readers when they write about sachin, also writing about his records is mere waste since it has to be updated everyday....

" we wish you a very very happy birthday Sachin", and also wish you the long innings in the crease" , its just one of the infinte birthday wishes we offer to the liitle master.I pray that he stays healthy forever so that he can entertain the cricketing world as long as he wish.. we love you Sachin!!!

Will Right to Education Act go Right!!!

The right to education act finally had its breathe on thursday after an eight year long hibernation in the goverment desks.I appreciate the UPA for passing this law and my applause to them but how far will it reach the people, i need some calrifications on this please go through the points and write ur comments..

• The goverment had allocated th initial amount of Rs.25,000 crores to implement this act,also there will be a need of 1.71 lakh crores needed for implementation of this act for 5 years, The goverment had said that it had arranged for it but how dependable is the sources..
  
• Currently there are 22 crore childrenshave been identified to be benifited under this act but the present number of schools faculties and facilities are not enough to cater the needs of current students, if there is a sudden hike will the standard of education will be high.., it will need atleast 50000 schools and 3.7 lakh teachers needed to meet the requirements, what will be done and how fast will it be done..
  
• There are several laws and schemes have been implemented regarding education, but everything reads as success only in the papers,will this one escape the corrupted hands of the politicians, will the schools treat the reservation students equally leaving behind their loss of business..
  
• What about the students below the age of 6 and above 14, can the student without any education compete with the students who is having educational background, will the schools treat the students equally, will the poor parents able to cope up the extra cost charged by the schools,(books,curricular activities,uniform,etc.). what will the students do after 14 if they happens to drop the school due to financial problems..
  This law will create large career opening in the teaching sector, but the faculties are trained enough and well qualified to meet the standards of demanding educational environment, vigorous training and workshops should be done for teachers and incentives should be awarded beacuse it increases the workload of the teachers dramatically..
  
• It gives a great oppurtunity to eradicate not only illiteracy but also gives the chance to wipe away the caste and relegious difference easily, according this scheme the students are identified as economically weak, so he gets all the benefit as an economically weak student, not as a student receiving something because he/she is from particular community , if we use this oppurtunity right we can remove the caste and other differences within 10 years as the upcoming generations will have no hint of the caste systems.

• One more serious issue is the government should initiate some steps to the umemployment problems because this RTE will definitely increase the rate of literacy and improper planning will result to the increase in the rate of umemployment, everyone gets education but job oppurtunities is limited will serve no purpose to the act..
  Potential students should be funded till their graduation,and after finding a suitable job the students should spend the amount utilized by them to the other potential student

these are some of points striked to me after readin the implementation of the act,it would be very intersting to see how the Government handles the problems ahead.. If the Government continues to show the negligance towards this also then this law will be another april fool prank, or something which opens more ways to corruption, or using it as a weapon to stay in the power.. lets see what happens!! and hope for the good,,,,

Intro

hi everyone!!
welcome to baskers blog.. Iam just one of the person whom u find in ur neighbourhood. The ignorance of the society and their tolerance towards everything provoked me to start this blog. This Blog deals with all the important and interesting happenings around the world and also the issues of public..