Swabhiman Scheme to Open Bank Accounts in Villages

- UPA government has launched a programme named 'Swabhiman' which aims at opening 5 crores nofrills accounts by March 2012 in over 73000 villages.
- 'Swabhiman' is one of the two ambitious programmes of the UPA regime to spread financial inclusion.
- The other programme- 'Swava- lamban' - has already been launched in September last year.
- The Centre provides Rs. 1,000 as pension for the poor in a year, if they come forward for 'Swavalamban'.
- The newly introduced Swabhian scheme will help a large number of people come under the banking system and thus into the savings mode in the economy.
- The government in the Budget for 2010-11 had announced to provide appropriate banking facilities to 60,000 habitations having population in excess of 2000 by March 2012 and extending insurance and other services to targeted beneficiaries using the business correspondent and other models with appropriate technology backup.