“I would like to applaud the untiring efforts of all those who have worked to make #PMJanDhan a success. Their efforts have ensured the people of India lead a better quality of life,” PM Modi said in his tweet.
As the Centre is observing the seventh anniversary of the Pradhan Mantri Jan Dhan Yojana (PMJDY) on Saturday, Prime Minister Narendra Modi tweeted saying that the scheme has transformed India’s development trajectory and ensured financial inclusion and a life of dignity as well as empowerment for countless citizens. Modi added the Jan Dhan Yojana also helped further transparency. “I would like to applaud the untiring efforts of all those who have worked to make #PMJanDhan a success. Their efforts have ensured the people of India lead a better quality of life,” PM Modi said in his tweet.
Union finance minister Nirmala Sitharaman also expressed her thoughts on the seventh anniversary of the Jan Dhan Yojana. According to a statement, Sitharaman said, “The journey of PMJDY led interventions undertaken over a short span of 7 years has in effect, produced both transformational as well as directional change thereby making the emerging FI ecosystem capable of delivering financial services to the last person of the society-the poorest of the poor.”
The PMJDY, which is one of the largest financial inclusion schemes across the globe, was announced by Prime Minister Modi during his Independence Day speech in 2014 and it was launched on August 28, 2014. The aim of the scheme is to expand affordable access to financial services including bank accounts, pensions and insurance among others.
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.
As the country was hit by the coronavirus disease (Covid-19) pandemic in 2020, the Union finance ministry said on Saturday that a total amount of ₹30,945 crore has been credited in the accounts of women PMJDY account holders during the lockdown imposed last year.
“As per announcement made by the Hon’ble Finance Minister on 26.3.2020, under PM Garib Kalyan Yojana, an amount of Rs. 500/- per month for three months (April’20 to June’20), was credited to the accounts of women account holders under Pradhan Mantri Jan Dhan Yojana (PMJDY). A total of Rs. 30,945 crore have been credited in accounts of women PMJDY account holders during Covid lockdown,” the statement added.
The ministry also said the Jan Dhan Yojana has been the foundation stone for people-centric economic schemes. “Whether it is direct benefit transfers, Covid-19 financial assistance, PM-KISAN, increased wages under MGNREGA, life and health insurance cover, the first step of all these schemes is to provide every adult with a bank account, which PMJDY has nearly completed,” the statement added.
Within 10 days of the nationwide lockdown, over 200 million women PMJDY accounts had been credited with ex-gratia. And as of August 18 this year, over 55 per cent of the Jan Dhan account holders are women and 66.69 per cent accounts are in rural and semi-urban areas of the country, the statement said, adding that in August this year, 368.6 million (85.6 per cent) are PMJDY accounts are operative out of the total 430.4 million.