Current Affairs India - 28 August 2014

1. Prime Minister Narendra Modi launched the 'Pradhan Mantri Jan Dhan Yojana' today. This is the most ambitious financial inclusion scheme so far by the Central Government which aims to provide a bank account and insurance cover to every household across the country. Narendra Modi announced the scheme during his independence speech this month.

On opening day, '1.5 crore bank accounts will be opened as a part of Jan Dhan Yojana scheme. As a first step, under the scheme, every account holder will get a 'RuPay' debit card with Rs 30,000 life insurance besides accidental insurance of up to Rs 1 lakh.

The Finance Ministry has asked State-owned Life Insurance Corporation to see if the insurance behemoth could provide life cover of ?30,000 to each of the 15 crore new bank account-holders proposed to be covered under the Jan Dhan Yojana.

2. The government announced the minimum monthly pension of Rs. 1,000 and a higher wage ceiling of Rs. 15,000 for social security schemes run by retirement fund manager EPFO which will be implemented from 1st September. This decision to fix pension entitlement of Rs. 1,000 will immediately benefit 28 lakh pensioners who are currently getting less than this amount as pension. This list includes 5 lakh widows as well.

Also the proposal to make minimum wage ceiling for becoming a subscriber of EPFO to Rs. 15,000 per month will bring nearly 50 lakh workers under the pension body. The maximum sum assured under the EDLI has also been fixed at Rs. 3.6 lakh including 20% ad hoc benefit over the prescribed amount under the notification compared to existing benefit of Rs 1.56 lakh.

3. Bollywood Superstar Shah Rukh Khan has been roped in as Ambassador of Interpol-s initiative -Turn Back Crime- campaign to promote awareness about prevention of crime. With this, he has become the first Indian to be roped in as Ambassador of Interpol. He will lend his voice to help the global body to spread the message about respecting the law and fight crimes.

He also joins Chinese star Jackie Chan as an Ambassador for the campaign which has already received support from famous sportspersons footballer Lionel Messi, Formula 1 racing drivers Fernando Alonso and Kimi Raikkonen.