Jan Dhan Accounts Cross 50 Crore, "Significant Milestone," Says PM Modi
Finance ministry said yesterday that the total number of Jan Dhan accounts, a financial umbrella provided by the Government of India to make economically backwards Indian citizens fall within a structured financial institution, have crossed 50 crore as of August 9, 2023. Out of these accounts, a statement from the ministry said, 56% accounts belong to women and 67% accounts have been opened in rural or semi-urban areas.
After calling the achievement as “a significant milestone”, Prime Minister Narendra Modi said “It is heartening to see that more than half of these accounts belong to our Nari Shakti.”
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
“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,” he added.
The national Mission on Financial Inclusion popularly known as Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched nine years ago on August 28, 2014.
The finance ministry said the deposits in Jan Dhan accounts are above Rs 2.03 lakh crore and about 34 crore RuPay cards have been issued in these accounts free of cost. The average balance in PMJDY accounts is Rs 4,076 and more than 5.5 crore PMJDY accounts are receiving DBT benefits.
“PMJDY scheme has been successful in changing the financial landscape of the country and has brought near saturation in bank accounts for adults. 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,” the finance ministry statement said.
PMJDY offers multiple advantages to account holders such as a bank account without requirement of minimum balance, free of cost RuPay debit cards with inbuilt accident insurance of Rs 2 lakh and overdraft facility of up to Rs. 10,000.
