Speaking at the function, he said it was untenable that the vast majority of the population should remain outside the purview of banks. A situation where the majority of population have mobile phones but no bank accounts needs to be changed, he said.
He hoped that Kerala would be a role model for other states in implementing the programme.
Gujarat minister, Vasu Ben Trivedi, was also present.
State Excise minsiter, K Babu, Former union minister, K V Thomas, were among those present at the event.