New Delhi, Aug 28 (ANI): Prime Minister Narendra Modi on Thursday launched the 'Pradhanmantri Jan Dhan Yojana. The Pradhan Mantri Jan Dhan Yojana is an ambitious scheme, under which the government would provide every household with a bank account and an insurance cover. Under the banking scheme, account holders would get a debit card and accident insurance cover of up to 100,000 rupees ($1,654). They would also get an overdraft facility of up to 5,000 Indian rupees. The first phase of the mission, starting this month, would end in August next year. The second phase will start from 2015 till 2018, covering aspects such as micro insurance and pension schemes like 'Swavalamban'.
