Modi government’s flagship scheme for financial inclusion, Pradhan Mantri Jan Dhan Yojana (PMJDY) has crossed over more than 40 crore bank accounts.
Launched six years ago, as per the latest figures there are 40.05 crore beneficiaries under this scheme and deposits in the Jan Dhan bank accounts are in excess of Rs 1.30 lakh crore.
The Department of Financial services in a tweet said, “Another milestone achieved under world’s largest financial inclusion initiative, PMJDY: Total accounts opened under the scheme crosses 40 Cr. mark. Committed to taking financial inclusion to the last mile.”
The scheme was launched six years ago on August 28, 2014 with an aim to provide universal banking services to the under-served and unserved segment of the country.
The accounts opened under PMJDY are basic saving bank deposit accounts features include RuPay debit card and overdraft facilities up to Rs 10,000 with zero minimum balance requirements.
As the scheme progressed the Government introduced accident insurance cover from Rs 1 lakh to Rs 2 lakh for accounts opened after August 28, 2018.
Further then the government had also shifted its focus on the accounts from every household to every unbanked adult.
More than 50 per cent of the Jan Dhan account holders are women and the central government had disbursed monthly Rs 500 for three months under the Pradhan Mantri Garib Kalyan Yojana during the lockdown period induced by the Covid-19 pandemic. Further the PMJDY is a channel for the government’s direct benefit transfer (DBT) programme of the central government.
The objective of the PMJDY was to ensure availability of financial services to the weaker sections and lower income groups.
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