Tuesday, May 28, 2024

Aiming to achieve his evil objectives through digital public infrastructure, Bill Gates wants to push this in India


Bill Gates lauded India’s progress in digitization of the nation and women empowerment while speaking on the Gates Foundation’s ambitious GoalKeepers campaign and report. The report digs into a wealth of data on Poverty, Agriculture, Infant mortality, Maternal mortality, Diseases like Malaria, TB, HIV, Vaccines, Education, Gender Equality among others.

The goal of the campaign being a better world by 2030, if everyone chips in as GoalKeepers.

A lot needs to be done though, Gates reminds.

GoalKeepers Award

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Gates lauded India’s status in goalkeeping for a better future. He seemed in awe of India’s Jan Dhan Yojana that provided the poorest of the nation with a bank account. 56% of the Jan Dhan accounts have gone to Indian women. Gates remarked while speaking with Times Now that it is incredibly important that the country is focusing on these tender issues yet there are huge challenges. Some of these challenges for Indian women are nutrition and access to food.

Bill Gates hails PM Modi’s leadership as G20 reaches consensus on role of digital public infrastructure 



However, Gates reminds that the pandemic has been a huge setback in keeping up with the goals. The war in Ukraine just added to the misery. Nonetheless, the foundation is taking the challenge head on. Gates remarked how the prices of grains shot up during the conflict but has now subsided a bit. However, he reminds, better seeds must be made to tackle the problem in the long run to feed more people with richer diets. Improved seeds should work under extreme climatic conditions like drought. He bemoaned the underfunding of the CG system that creates new seeds. This has implications for the Indian farmers as well. Gates said that farmers need better advice in these desperate times. Their foundation has aided a Digital Green effort that deploys digital platforms to aid and advise farmers. Speaking of the pandemic with the Hindustan Times, Gates said that it was a tragedy that taught us a lot of lessons. He didn’t completely shrug off another wave of pandemic. He said there’s always a risk. But we need not be complacent, Gates remarked. He said that there’s a lot of work left to be done on this front.

Additional Information:

Pradhan Mantri Jan Dhan Yojana


The National Mission of Financial Inclusion named as the Pradhan Mantri Jan Dhan Yojana seeks to integrate the poorest of the poor with bank accounts.

About PMJDY:

Announced on 15th August 2014, PMJDY is National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.


  • To ensure access of financial products & services at an affordable cost.
  • Use of technology to lower cost & widen reach.

Basic tenets of the scheme:

Banking the unbanked –

  • Opening of basic savings bank deposit (BSBD) account with minimal paperwork, relaxed KYC, e-KYC, account opening in camp mode, zero balance & zero charges.

Securing the unsecured –

  • Issuance of Indigenous Debit cards for cash withdrawals & payments at merchant locations, with free accident insurance coverage of Rs. 2 lakhs.
  • Funding the unfunded – Other financial products like micro-insurance, overdraft for consumption, micro-pension & micro-credit.

Salient features of the scheme

  • All households across the country – both rural and urban are to be covered under the scheme.
  • Bank accounts will be opened for 15 crore poor persons.
  • All bank accounts opened under the scheme are to have an overdraft facility of Rs 5,000 for Aadhar-linked accounts after satisfactory operation in the account for 6 months.
  • Issuance of RuPay Debit Card with inbuilt Rs 2 lakh personal accident insurance cover.
  • The increased coverage amount of Rs. 2 lakh is for PMJDY accounts opened after 28.08.2018.
  • A minimum monthly remuneration of Rs 5,000 to business correspondents who will provide the last link between the account holders and the bank.

Implementation of the scheme

  1. The mission will be implemented in two phases, the details of which are as follows.
  2. Phase I – 15 August 2014 – 14 August 2015
  3. Universal access to banking facilities for all households across the country through a bank branch or a fixed point Business Correspondent (BC) within a reasonable distance.
  4. To cover all households with atleast one basic banking account with RuPay Debit Card with inbuilt Rs 1 lakh accident insurance cover.
  5. Financial literacy programme to be taken to the village level.
  6. Expansion of Direct Benefit Transfer under various government schemes through bank accounts of the beneficiaries.
  7. Issuance of Kisan Credit Card is also proposed
  8. Phase II – 15 August 2015 – 14 August 2018
  9. Providing micro-insurance to the people.
  10. Unorganized sector pension schemes like Swavalamban through the Business Correspondents.
  11. Phase III – beyond 14 August 2018
  12. The flagship financial inclusion program (PMJDY) will focus on opening accounts from “every household to every adult”.
  13. Existing Over Draft (OD) limit of Rs 5,000 to be raised to Rs 10,000.
  14. There will not be any conditions attached for OD upto Rs 2,000.
  15. Age limit for availing OD facility to be revised from 18-60 years to 18-65 years.
  16. Under the expanded coverage from “every household to every adult”, accidental insurance cover for new RuPay card holders to be raised from Rs 1 lakh to Rs 2 lakh to new PMJDY accounts opened after 28.8.18.

Continue Reading: https://www.insightsonindia.com/social-justice/welfare-schemes/schemes-under-ministry-of-finance/pradhan-mantri-jan-dhan-yojana/

Source: Mashable India, Twitter, InsightsIAS

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