Highlights:

  • A majority of the beneficiaries are women and most of the accounts are from rural India.
  • It has been the foundation stone for the Modi government’s people-centric economic initiatives
  • About 8 crore PMJDY accountholders receive Direct Benefit Transfer (DBT) from the Government under various schemes
  • An important aspect is that DBTs via PM Jan Dhan accounts have ensured every rupee reaches its intended beneficiary and prevented systemic leakage

NEW DELHI: On the 6th anniversary of Pradhan Mantri Jan Dhan Yojana (PMJDY), the Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman reiterated the importance of the Scheme which has been the foundation stone for the Modi government’s people-centric economic initiatives.

She added whether it is direct benefit transfers, COVID-19 financial assistance, PM-KISAN, increased wages under MGNREGA, life and health insurance cover, the first step was to provide every adult with a bank account, which PMJDY has nearly completed. More than 40.35 crore beneficiaries banked under PMJDY since inception, amounting to Rs. 1.31 lakh crore accounting to 63.6% Rural PMJDY accounts and 55.2%Women PMJDY accounts.

Under PM Garib Kalyan Yojana, a total of Rs. 30,705 crore has been credited in accounts of women PMJDY account holders during April-June, 2020. About 8 crore PMJDY accountholders receive Direct Benefit Transfer (DBT) from the Government under various schemes. The scheme was announced by PM Modi in his Independence Day in 2014. While launching the program on 28th August, the PM had described the occasion as a festival to celebrate the liberation of the poor from a vicious cycle.

The major aspects and achievements of this Scheme are to provide financial inclusiveness and support to the marginalized and hitherto socio-economically neglected classes which are an enabler for inclusive growth. A key initiative towards this commitment is one of the biggest financial inclusion initiatives in the world.

 Minister of State for Finance & Corporate Affairs, Shri Anurag Thakur also expressed his thoughts for PMJDY on this occasion. He said “Under the leadership of PM, PMJDY has brought the unbanked into the banking system, expanded the financial architecture of India, and brought financial inclusion to over 40 crore account holders. “An important aspect is that DBTs via PM Jan Dhan accounts have ensured every rupee reaches its intended beneficiary and prevented systemic leakage” he added.

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