The ambitious financial inclusion project of the current government, namely the Pradhan Mantri Jan Dhan Yojana (PMJDY), has flown through its first year.
Incidentally, the Pradhan Mantri Jan Dhan Yojana is the biggest financial inclusion initiative in the world.
As per records, this wave has brought in a sea change in the financial domain in the country. The National Mission on Financial Inclusion launched by Prime Minister Narendra Modi holds holistic and fair objective of covering all households in the country with banking facilities and having a bank account for each household.
There has been tremendous response from all the corners of the country to PMJDY in the last one year.
The government started the PMJDY to provide ‘universal access to banking facilities’ and Prime Minister Narendra Modi has always emphasised that this is important for including people left-out into the mainstream of the financial system.
As per statistics, as on 11th November 2015, the banks opened 19.41 Crore accounts under PMJDY with deposit of more than 26,819 crores. Some 16.61 Crore customers were issued the Rupay cards.
On an average there were two lakh accounts that have been opened per day.
The Jan Dhan Yojana added another feather in its cap by featuring in the Guinness Book of World Records.
Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/
