Six years to PMJDY: Journey so far

Launched on 28 August 2014, Central government’s flagship programme; Pradhan Mantri Jan Dhan Yojana completed its journey of six years today. It is one of the word’s biggest financial inclusion initiatives, the Ministry of Finance quoted in a series of tweet.

About the Scheme

The PMJDY Scheme was announced by PM Modi on the first Independence Day address of his tenure on August 15, 2014. Department of Financial Services, Ministry of Finance runs the scheme. On the Inauguration day itself, 15 million bank accounts were opened making the Guinness Book of World Records of the most bank accounts opened in a week as a part of the financial inclusion campaign. Soon after the launch, more than 318 million bank accounts were opened and more than ₹792 billion were deposited in the bank. PMJDY aims at ensuring every single rupee reaches to the intended beneficiary preventing any systematic leakages as most of the beneficiary are rural woman hence, it was a much-awaited step which the government took.

Highlights

Since its inception, more than 40.35 crore beneficiaries have transacted with the bank which amounts to a whopping Rs 1.31 lakh crore. 55.2 per cent women PMJDY accounts and 63.6 per cent rural PMJDY accounts have been opened as on August 19, 2020. Under the scheme, a total of 29.75 crore RuPay cards (card native to India) were issued to PMJDY account holders.

Month: Current Affairs - August, 2020