Jan Dhan Yojana Marks 10 Years with Over 53 Crore Account
Completing a decade successfully, Jan Dhan Yojana (PMJDY) marks a turning point in India’s financial inclusion path.
Jan Dhan Yojana Marks ten years
Originally started by Prime Minister Narendra Modi in 2014, the PMJDY sought to include unbanked people into the official banking sector. With around 53.13 crore accounts today, the campaign is clearly rather widely adopted.
Empowering rural communities and women
The PMJDY stands out for stressing women and rural areas. The Ministry of Finance reports that although 66.6% of the Jan Dhan accounts are in rural and semi-urban areas, 55.6% of the account holders are women. This extensive overview shows how the program helps underprivileged groups of people to get necessary financial services, therefore empowering them.
Huge Deposits and Digital Expansion
The total deposits in Jan Dhan accounts as of August 2024 were ₹2.31 lakh crore, a notable rise in both the count of accounts and deposits since its launch. Reflecting the developing trust and financial discipline among account holders, the average deposit per account has doubled over the years. With more than 13,113 crore UPI transactions in the past financial year, the system has also seen an explosion in digital transactions.
Electronic Banking and Financial Services
Over 36 crore RuPay debit cards have been issued, hence enhancing digital banking in India. Free debit cards, accident insurance, and overdraft capabilities help Jan Dhan Yojana account holders to foster financial security and savings. Millions of people have used these services to access pension plans, insurance, and loans, therefore promoting national economic growth.
Ten Years of Financial Transformation
Ten years of Jan Dhan Yojana have shown to be a transforming agent in the financial scene of India. Millions of people now have access to official financial services, which has helped them to raise their income level and quality of living. With around 30 crore women account holders and a substantial rural presence, the initiative remains vital in inclusive growth and financial empowerment.
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