PM Modi’s lies on bank accounts exposed

Prime Minister Narendra Modi, yet again lied to the country by saying that earlier only 50 per cent of families had bank accounts and now almost all are connected.

Well, as per census 2011, 58.7% of households reported availing banking services. As reported by the Reserve Bank of India (RBI).

In order to ensure that each household has a bank account, instructions have been issued to all PSBs and Regional Rural Banks (RRBs) to launch campaign for opening of at least one bank account per family.

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Under Financial Inclusion initiatives, banks have already opened 3.16 crore accounts by March 31, 2012.

The above information is as per an answer given in the Lok Sabha on December 14, 2012 by then Minister of State for Finance Namo Narain Meena.

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