New Delhi: A day after the finance ministry announced that the number of Jan Dhan accounts in the country has crossed the 50-crore mark as on 9 August, Prime Minister Narendra Modi called it a significant milestone Saturday.
Reacting to the fact that 56 percent of these accounts belong to women, a detail shared by the ministry, Modi added, “It is heartening to see that more than half of these accounts belong to our Nari Shakti.”
“With 67% of accounts opened in rural and semi-urban areas, we are also ensuring that the benefits of financial inclusion reach every corner of our nation,” Modi posted on the social media platform X.
This is a significant milestone.
It is heartening to see that more than half of these accounts belong to our Nari Shakti. With 67% of accounts opened in rural and semi-urban areas, we are also ensuring that the benefits of financial inclusion reach every corner of our nation. https://t.co/sfZaNUOSts
— Narendra Modi (@narendramodi) August 19, 2023
The national mission on financial inclusion, or the Pradhan Mantri Jan Dhan Yojana (PMJDY), was launched on 28 August, 2014, and has been one of the Modi government’s flagship programmes.
The scheme ensures access to financial services such as “a basic savings & deposit accounts, remittance, credit, insurance, pension in an affordable manner”. Under the scheme those with no bank accounts can open an account without a minimum balance. It also provides free RuPay debit cards with accident insurance cover of Rs 2 lakh, and an overdraft facility of up to Rs 10,000.
According to the ministry, the deposits in these 50 crore accounts are above Rs 2.03 lakh crore and about 34 crore RuPay cards have been issued for these accounts. The average balance in Jan Dhan accounts is Rs. 4,076 and more than 5.5 crore accounts are receiving direct benefits under various government schemes and subsidies, it said.
“PMJDY scheme has been successful in changing the financial landscape of the country and has brought near saturation in bank accounts for adults,” said the finance ministry in a statement Friday.
It added, “The success of PMJDY lies in the comprehensive nature of the scheme with an attempt to connect the last mile with the formal banking system through technology, collaboration and innovation.”
(Edited by Smriti Sinha)
Also read: ‘Rid India of corruption, dynasty & appeasement politics’ — PM launches 2024 campaign from Red Fort