Other countries like US, Russia may soon follow Jan Dhan Yojna model

News

• JanDhan Yojna is soon going to be a worldwide template for achieving rapid financial inclusion.
• The Financial Action Task Force, a global anti-terror financing agency, has given initial approval to a paper by India on how it achieved the task in a few months while adhering to know your customer (KYC) norms.
• The US, Russia, Spain and the Netherlands have extended support to the paper.
• Government has informally given a presentation on the contours of KYC followed under the PMJDY (Pradhan Mantri Jan Dhan Yojana) programme.
• A proposal has now been approved to study as to how India did it in form of a best practices paper.