NEW DELHI: Finance Minister Nirmala Sitharaman on Monday stated Jan Dhan Yojana-led interventions and digital transformation have revolutionised financial inclusion in the nation, as more than 50 crore individuals have been introduced into the formal banking system with cumulative deposits surpassing Rs 2 lakh crore.
On the ninth anniversary of the Pradhan Mantri Jan Dhan Yojana (PMJDY), which is among the greatest financial inclusion initiatives in the world, Sitharaman in her message stated 55.5 per cent bank accounts have been opened by ladies, and 67 per cent have been opened in rural/semi-urban areas.
Under the scheme, the variety of bank accounts grew 3.4-fold from 14.72 crore in March 2015, to 50.09 crore as on August 16, 2023.
Total deposits too have swelled from Rs 15,670 crore as of March 2015, to over Rs 2.03 lakh crore as of August 2023.
The common deposits in Jan Dhan accounts have elevated 3.8 occasions from Rs 1,065 as of March 2015, to Rs 4,063 in August 2023.
About 34 crore RuPay playing cards have been issued to those accounts with out cost, which additionally supplies for a Rs 2 lakh accident insurance coverage cowl.
The zero-balance accounts underneath the scheme have diminished to eight per cent of whole accounts as of August 2023, from 58 per cent in March 2015.
Sitharaman stated, “the 9 years of PMJDY-led interventions and digital transformation have revolutionised financial inclusion in India. With the collaborative efforts of stakeholders, banks, insurance companies, and government officials, the PMJDY stands out as a pivotal initiative, changing the landscape of financial inclusion in the country…”.
Minister of State for Finance Bhagwat Karad stated Jan Dhan–Aadhaar–Mobile (JAM) structure has enabled profitable switch of presidency advantages in the accounts of the widespread man seamlessly.
“PMJDY accounts have become the fulcrum of people-centric initiatives like Direct Benefit Transfer (DBT) and have contributed towards inclusive growth of all sections of the society, especially the underprivileged,” Karad stated.
The PMJDY was launched on August 28, 2014, with an purpose to supply common banking providers via the opening of zero-balance bank accounts for each unbanked family, based mostly on the guiding rules of banking the unbanked, securing the unsecured and funding the unfunded.
On the ninth anniversary of the Pradhan Mantri Jan Dhan Yojana (PMJDY), which is among the greatest financial inclusion initiatives in the world, Sitharaman in her message stated 55.5 per cent bank accounts have been opened by ladies, and 67 per cent have been opened in rural/semi-urban areas.
Under the scheme, the variety of bank accounts grew 3.4-fold from 14.72 crore in March 2015, to 50.09 crore as on August 16, 2023.
Total deposits too have swelled from Rs 15,670 crore as of March 2015, to over Rs 2.03 lakh crore as of August 2023.
The common deposits in Jan Dhan accounts have elevated 3.8 occasions from Rs 1,065 as of March 2015, to Rs 4,063 in August 2023.
About 34 crore RuPay playing cards have been issued to those accounts with out cost, which additionally supplies for a Rs 2 lakh accident insurance coverage cowl.
The zero-balance accounts underneath the scheme have diminished to eight per cent of whole accounts as of August 2023, from 58 per cent in March 2015.
Sitharaman stated, “the 9 years of PMJDY-led interventions and digital transformation have revolutionised financial inclusion in India. With the collaborative efforts of stakeholders, banks, insurance companies, and government officials, the PMJDY stands out as a pivotal initiative, changing the landscape of financial inclusion in the country…”.
Minister of State for Finance Bhagwat Karad stated Jan Dhan–Aadhaar–Mobile (JAM) structure has enabled profitable switch of presidency advantages in the accounts of the widespread man seamlessly.
“PMJDY accounts have become the fulcrum of people-centric initiatives like Direct Benefit Transfer (DBT) and have contributed towards inclusive growth of all sections of the society, especially the underprivileged,” Karad stated.
The PMJDY was launched on August 28, 2014, with an purpose to supply common banking providers via the opening of zero-balance bank accounts for each unbanked family, based mostly on the guiding rules of banking the unbanked, securing the unsecured and funding the unfunded.
