“This is where we have to make the progress if we want to have a serious shot at winning the next election. The energy to do so has been building for a while now and it’s going to continue to build. But in order to build it, we don’t need to do all the dirty work we always do to win elections. We need to start doing the necessary and effective work.
“What we need to do is to start investing in our energy system. We cannot build energy alone, we must be an energy superpower. We must begin a real programme of investment, both public investment and private investment in our energy infrastructure; we must do this.”
Mumbai: With this month’s launch of the new government bank account with a balance of Rs.1,000 and the bank account of a person whose account is valued at Rs.2,000, more people may have the option to start opening savings accounts.
Also, for the first time, people can open joint accounts with any of their family members and relatives.
The Reserve Bank of India said on Tuesday that more than 11 million new accounts have been opened in the banking system so far. There were 20 million open accounts in a year when this government took over.
In December last year, RBI had said that the bank accounts with a balance in the range of Rs.10,000 to Rs.100,000 (including the amount on card and overdraft) and with an account worth less than Rs.50,000 (including the amount on card) were available to the first two lakh people who opened accounts, according to statistics released by the government.
The Reserve Bank said that this is a big jump compared with a few years ago. During 2009-10, the Reserve Bank had announced that there would be over 25 crore accounts, the last year prior to the present government’s tenure.
At present, the bank accounts that are available have limits ranging from Rs.1,000 to Rs.5,000 and can start earning interest from 1 April to 1 March. The other limits include the amount on card and overdraft, which are generally between Rs.600 and Rs.2,000 per day.
The Rs.500- Rs.1,500 limit was only available for those who had a bank account with a balance below Rs.50 lakh during the previous year.
It is estimated that the total number of people who will have bank accounts with a balance this month, even those
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