The total deposits in the Jan Dhan accounts are above Rs 2.03 lakh crore while around 34 crore RuPay cards have been issued with these.
New Delhi: In a major achievement, the Central government’s Jan Dhan scheme on Friday crossed 50 crore accounts with Prime Minister Narendra Modi terming the feat as ” a significant milestone.”
“This is a significant milestone. It is heartening to see that more than half of these accounts belong to our Nari Shakti. With 67% of accounts opened in rural and semi-urban areas, we are also ensuring that the benefits of financial inclusion reach every corner of our nation,” PM wrote on X, formerly Twitter.
This is a significant milestone.
It is heartening to see that more than half of these accounts belong to our Nari Shakti. With 67% of accounts opened in rural and semi-urban areas, we are also ensuring that the benefits of financial inclusion reach every corner of our nation. https://t.co/sfZaNUOSts
— Narendra Modi (@narendramodi) August 19, 2023
On Friday, the Union Finance Ministry revealed that the total number of Jan Dhan accounts in the country has crossed the 50-crore mark, with 56 per cent of them belonging to women.
According to the data provided by the finance ministry in an official statement, about 67 per cent of these accounts have been opened in rural and semi-urban areas. The total deposits in the Jan Dhan accounts are above Rs 2.03 lakh crore while around 34 crore RuPay cards have been issued with these accounts free of cost, the finance ministry said.
The average balance in Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts is Rs 4,076 and more than 5.5 crore of these are receiving Direct Benefit Transfer (DBT), it said.
The National Mission on Financial Inclusion — popularly known as PMJDY — which was launched on August 28, 2014, has been successful in changing the financial landscape of the country, it added.
PMJDY offers multiple advantages to account holders such as a bank account without the requirement of a minimum balance, free of cost RuPay debit cards with in-built accident insurance of Rs 2 lakh, and an overdraft facility of up to Rs 10,000.
The PM Modi-led NDA government launched a massive nationwide exercise in 2014 to open Jan Dhan bank accounts to boost financial inclusion with the aim of making a host of financial services, including direct benefit transfers, accessible to the poor.
The Jan Dhan scheme has been instrumental in bringing millions of unbanked and underbanked individuals into the formal banking system. It aims to provide financial services such as savings accounts, insurance, and credit facilities to those who were previously excluded from the banking sector.
The program’s success in reaching rural and semi-urban areas and its significant female participation underscore its effectiveness in bridging financial gaps and empowering individuals across the country.
(With PTI inputs)
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