Categories: Business

Bank accounts opened under Jan Dhan Yojana crosses 40-crore mark The number of bank accounts under the Jan Dhan Yojana is more than 40 crores, it has deposits of 1.30 lakh crores.

Photo: ZEEBUSINESS

Bank accounts opened under Jan Dhan Yojana crosses 40-crore mark

new Delhi. More than 40 crore bank accounts have been opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY), the financial inclusion program of Modi government. The scheme was launched six years ago. According to the latest data, so far Jan Dhan accounts of 40.05 crore people have been opened and the amount deposited in these accounts has exceeded 1.30 lakh crore rupees.

The Department of Financial Services (DFS), under the Ministry of Finance, said in a tweet that another major milestone has been achieved under PMJDY, the world's largest financially inclusive program. The total number of accounts opened under this scheme has crossed 40 crores. Committed to taking this program of financial inclusion to its final stage.

This success in Jan Dhan accounts has been achieved just days before the sixth anniversary of the scheme. The scheme was launched on 28 August 2014. The objective of the scheme is to connect all the people of the country with banking facilities. Jan Dhan accounts opened under PMJDY are basic savings bank accounts. Along with these, Rupe card and account holder are given additional facility of giving overdraft. In this account, the account holder is not required to maintain the minimum amount in the account at all times. For the success of the scheme, the government increased the accident insurance amount to Rs 2 lakh with such Jan Dhan accounts to be opened after 28 August 2018, which was earlier kept at Rs 1 lakh.

Along with this, the limit of overdraft facility in the account has also been increased to Rs 10,000. Instead of opening a bank account from every household, the government has shifted its focus to having a bank account of every adult. More than 50 percent of the Janadhan account holders are women and the government has deposited Rs 1,500 in three equal monthly installments to help the poor in the Kovid-19 crisis under the Pradhan Mantri Garib Kalyan Yojana. On March 26, 2020, the government had announced to provide assistance of Rs 500 every month for three months from April to the account of Jan Dhan account holders.

The objective of the PMJDY scheme is to ensure access to the banking system to all, as well as to provide a basic savings bank account to every adult person of the weaker and lower income sections of the society, the need to avail loans and insurance and pension facilities. The government benefits provided to the people through Jan Dhan bank accounts have also been provided to directly transfer to the bank account of the beneficiary. It has proved to be a better way to carry forward the Direct Benefit Transfer (DBT) scheme of the Central Government.

This post was published on August 3, 2020 4:17 pm

Content Team

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