Emphasising the “transformational change” in monetary inclusion caused by the Pradhan Mantri Jan Dhan Yojana (PMJDY) in a seven-year interval, the federal government mentioned Saturday banks have now been requested to enhance entry of account holders within the scheme to micro-credit and micro funding merchandise, like flexi-recurring schemes.
According to a future street map for the scheme, the Finance Ministry has mentioned that banks ought to be sure that eligible account holders are supplied the linked micro insurance coverage insurance policies to enhance security nets.
Over the seven-year interval since Prime Minister Narendra Modi launched the PMJDY scheme, the variety of accounts has risen to 43.04 crore in August 2021 from 17.9 crore in August 2015, whereas the deposits have shot as much as Rs 1.46 lakh crore from Rs 22,901 crore throughout the identical interval.
Of this, 55.47 per cent (23.87 crore) Jan Dhan account holders are girls and 66.69 per cent (28.70 crore) holders are in rural and semi-urban areas. Deposits per account have risen to Rs 3,398 in August 2021 from Rs 1,279 in August in 2015, the ministry mentioned in an announcement on Saturday, detailing progress of the scheme.
“The journey of PMJDY-led interventions undertaken over a short span of seven years has, in effect, produced both transformational as well as directional change, thereby making the emerging FI (financial inclusion) ecosystem capable of delivering financial services to the last person of the society — the poorest of the poor,” Finance Minister Nirmala Sitharaman mentioned.
The proportion of operational Jan Dhan accounts has risen to 85.6 per cent or 36.86 crore in August 2021, from 76 per cent or 23.15 crore in August 17, the Centre mentioned.
A Jan Dhan account is handled as inoperative if there aren’t any buyer induced transactions in it for over two years. Out of the overall, 8.2 per cent accounts are zero stability accounts.
“Today we mark seven years of #PMJanDhan, an initiative that has forever transformed India’s development trajectory. It has ensured financial inclusion and a life of dignity as well as empowerment for countless Indians. Jan Dhan Yojana has also helped further transparency,” the Prime Minister mentioned in tweet on Saturday.
On the street forward, the Finance Ministry mentioned that eligible PMJDY account holders can be sought to be lined underneath the Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana.
