PM Narendra Modi’s flagship program for financial inclusion, Pradhan Mantri Jan Dhan Yojana has completed its eighth year. The program has been a rousing success and has achieved several of its goals in the period of eight years. PM Modi had launched the PMJDY program during his first Independence Day address in 2014.
According to government data, as of August 10, there were a total of 46.3 Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts in India. Women hold 55.6 percent of these accounts while 66.8 percent of these accounts are in rural and semi-urban areas.
Government data states that there has been a three-folds in PMJDY accounts from 14.7 crore in March 2015 to 46.3 crore as on August 10.
Reiterating the program’s underlying objective, Union Finance Minister Nirmala Sitharaman said, “The underlying pillars of PMJDY, namely, Banking the Unbanked, Securing the Unsecured and Funding the Unfunded has made it possible to adopt multi-stakeholders collaborative approach while leveraging technology for serving the unserved and underserved areas as well”.
As of August 22, 37.57 crores (81.2 per cent) of the total PMJDY accounts are operative.8.2 percent of all PMJDY accounts are zero balance accounts and total deposit balances in all the accounts collectively isRs 173,954 crore.
