PM Modi Hails PMJDY On 11th Anniversary: 56 Crore Accounts Opened, Financial Inclusion Boosted

PMJDY completes 11 years with 56 crore accounts and Rs 2.68 lakh crore deposits. Scheme empowers rural India, women, and delivers benefits via DBT, says Modi, Sitharaman.

PMJDY 11th Anniversary: 56 Crore Accounts Opened, Financial Inclusion Soars

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New Delhi [India], August 28 (ANI): On the occasion of Pradhan Mantri Jan Dhan Yojana's (PMJDY) 11th anniversary, Prime Minister Narendra Modi lauded the scheme's impact over the years.

"When the last mile is financially connected, the entire nation moves forward together. That is exactly what the PM Jan Dhan Yojana achieved. It enhanced dignity and gave people the power to script their own destiny," Modi said on a social media post.

Over 56 crore Jan Dhan accounts have been opened in the last 11 years under the PMJDY, with a total deposit balance of Rs. 2.68 lakh crore, Union Finance Minister Nirmala Sitharaman stated on Thursday.

"Over the last 11 years, more than 56 crore Jan Dhan accounts have been opened, garnering a total deposit balance of Rs. 2.68 lakh crore. More than 38 crore free-of-cost RuPay cards have been issued, facilitating digital transactions," Sitharaman said in a press release by the Ministry of Finance.

Highlighting the reach of the scheme, Sitharaman said, "It is noteworthy that under PMJDY, 67 per cent of the accounts are opened in rural or semi-urban areas, and 56 per cent of the accounts are opened by women, indicating how underprivileged individuals living in far-flung areas of the country have been brought into the formal financial sector."

Launched on August 28, 2014, by Prime Minister Narendra Modi, PMJDY is the "world's largest financial inclusion programme", aimed at giving every household access to a bank account and financial services. Over the years, the scheme has grown into a major platform for connecting millions of poor and underserved citizens with the formal banking system.

The Finance Minister added that the scheme has played an important role in delivering government benefits directly to citizens. "PMJDY has been one of the major channels for delivering benefits under various schemes using Direct Benefit Transfer (DBT), providing credit facilities, social security, and enhancing savings and investments," she said.

Union Minister of State for Finance, Pankaj Chaudhary, called the scheme a landmark initiative. "PMJDY has been one of the most successful financial inclusion initiatives not only in the country but in the whole world. The Jan Dhan Yojana is about dignity, empowerment and opportunity," he said.

The Minister of State also spoke about ongoing outreach efforts. "We have launched a saturation campaign where at least one camp will be held in each of the 2.7 lakh gram panchayats in the country where eligible persons can open PMJDY accounts, enrol under Jansuraksha schemes and also do their re-KYC and update nominations in their bank accounts. While the saturation drive will culminate on 30th September, the initial reports have been encouraging," he said.

Chaudhary added that with support from banks, insurance companies and state governments, India is moving towards becoming a more financially inclusive society. He said PMJDY would always be remembered as a "game changer" in the country's financial journey. 

 

(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)