Jan Dhan Yojna not Just a Change of Name: Arun Jaitley

New Delhi, Feb 26: Rubbishing the claims that the scheme Jan Dhan Yojna launched by the government of India was a mere change of name of the former government's scheme, Finance Minister Arun Jaitley said that the biggest achievement for the government has been that it has been able to get nearly 12.5 crore bank accounts in a time span of 100 days.

The clarification from the government comes ahead of the budget. It also comes weeks before Jaitley is scheduled to meet heads of public sector banks on March 5 to review the progress made under the Jan Dhan Yojana.

The quarterly review meeting, to be chaired by Jaitley, will also be attended by heads of public sector financial institutions such as Nabard and NHB.

The Pradhan Mantri Jan Dhan Yojana was launched on August 28 for promoting financial inclusion across the country.

As for infusing capital in state-owned banks, government has earmarked Rs 11,200 crore for the current fiscal ending March 31.

"The Jan Dhan scheme for financial inclusion is not a change of name. What the UPA did as a part of financial inclusion was merely ornamental. The basic problem was that you treated a village as a unit. The village has an access to a business correspondent or a business correspondent of a bank has an access to a village; financial inclusion is complete. You had very few people opening bank accounts. We have opened 12.5 crore accounts in hundred days", Jaitley said.