Prime Minister Modi expresses happiness over the successful completion of 6 Years of Pradhan Mantri Jan Dhan Yojana
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Aug 28, 2020, 12:37 pm IST
Prime Minister Narendra Modi expressed happiness over the successful completion of 6 Years of Jan Dhan Yojana. He also applauded all those who have worked tirelessly to make PM-JDY a success.
The Prime Minister said, “Today, six years ago, the Pradhan Mantri Jan Dhan Yojana was launched with an ambitious aim of banking the unbanked. This initiative has been a game-changer, serving as the foundation for many poverty alleviation initiatives, benefitting crores of people.
Thanks to the Pradhan Mantri Jan Dhan Yojana, the future of several families has become secure. A high proportion of beneficiaries are from rural areas and are women. I also applaud all those who have worked tirelessly to make PM-JDY a success.”
Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman reiterated the importance of this Scheme “The Pradhan Mantri Jan Dhan Yojana has been the foundation stone for the Modi government’s people-centric economic initiatives. Whether it is direct benefit transfers, COVID-19 financial assistance, PM-KISAN, increased wages under MGNREGA, life and health insurance cover, the first step was to provide every adult with a bank account, which PMJDY has nearly completed.” she said
Anurag Thakur Minister of State for Finance & Corporate Affairs said “Under the leadership of Prime Minister Narendra Modi, PMJDY has brought the unbanked into the banking system, expanded the financial architecture of India and brought financial inclusion to over 40 crore account holders. A majority of the beneficiaries are women, and most of the accounts are from rural India. In today’s COVID19 times, we have witnessed the remarkable swiftness and seamlessness with which DBTs have empowered and provided financial security to the vulnerable sections of society. An important aspect is that DBTs via PM Jan Dhan accounts have ensured every rupee reaches its intended beneficiary and prevented systemic leakage.”
Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner. It also ensuy access to financial products & services at an affordable cost and use of technology to lower cost & widen reach.
PMJDY helps to secure the unsecured – Issuance of Indigenous Debit cards for cash withdrawals & payments at merchant locations, with free accident insurance coverage of Rs. 2 lakh, funding the unfunded – Other financial products like micro-insurance, overdraft for consumption, micro-pension & micro-credit.
As on August 19, 2020, PMJDY has many achievements under its bags, and it has Total 40.35 Crore PMJDY Accounts; Rural PMJDY accounts 63.6%, Women PMJDY accounts 55.2%, during the first year of scheme 17.90 crore PMJDY accounts were opened.
The total deposit balance under PMJDY Accounts stand at Rs. 1.31 lakh crore, deposits have increased about 5.7 times with an increase in accounts 2.3 times.
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