Those who drew an honorarium of Rs 3,000 will from now on get Rs 4,500 and those who used to get Rs 2,200 will get Rs 3,500, he said. The honorarium of Anganwadi helpers will be hiked from Rs 1,500 to Rs 2,500, says the PM.

During his Independence Day speech on 15th August 2014, Prime Minister Modi announced the establishment of PMJDY as a scheme meant to increase banking penetration, promote financial inclusion and provide at least one bank account per household across the country in four years.

As the rain fury abates and the flooding starts to recede in Kerala - ravaged by the worst monsoon in close to a century - the insurance industry braces up for a deluge of claims.

PMJDY was started with a target to provide universal access to banking facilities starting with basic saving bank account with an overdraft upto Rs 5000 subject to satisfactory operation in the account for six months and RuPay Debit card with inbuilt accident insurance cover of Rs 1 lakh.

State Bank of India is using technology ggressively to reach out to remote areas of the country.

The Union Budget 2018-19 holds many expectations even as India's domestic economy is going through a critical phase of growth.

Recent Union Budgets have focussed significantly on social security measures with the objective of moving towards a universal social security system for all, especially the poor and the underprivileged.

The good news is you can secure your house help's future for the princely sum of Rs 250.

\"In a way, this is a saving for the poor, this is his empowerment for the future. And those who opened their accounts under the Pradhan Mantri Jan DhanYojna, have received the benefit of insurance as well,\" the PM said.

Finance Minister Arun Jaitley on Sunday said JAM (Jan Dhan, Aadhaar and Mobile) trinity has ushered in a social revolution which will eventually bring all Indians into a common financial, economic and digital space

The direct benefit transfer programme has resulted in Rs 50,000 crore savings for the government in the last three years as funds were directly transferred to 32 crore needy people, BJP President Amit Shah has said.

The financial market in India is under major transformation with several policy initiatives to bring more transparency in financial transaction and also efforts to offer the banking services to people in far flung areas.

\"The Finance Minister will review the first quarter performance of public sector banks and financial institutions on September 16,\" sources said.