As Prime Minister Narendra Modi-led central government celebrates 7th successful year of implementation of Pradhan Mantri Jan-Dhan Yojana (PMJDY), National Mission for Financial Inclusion, the Ministry of Finance on Saturday said that as many as 43.04 crore beneficiaries have been brought under banking system since the inception of PMJDY. It also said that amount deposited in these bank accounts have gone up to Rs 146,231 crore 

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PMJDY was announced by PM Narendra Modi in his Independence Day address on 15th August 2014. While launching the programme on 28th August, the Prime Minister had described the occasion as a festival to celebrate the liberation of the poor from a vicious cycle. 

Reiterating the importance of this Scheme, Finance Minister Nirmala Sitharaman, said, “The journey of PMJDY led interventions undertaken over a short span of 7 years has in effect, produced both transformational as well as directional change thereby making the emerging FI ecosystem capable of delivering financial services to the last person of the society-the poorest of the poor. 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.” she said 

In a big success, the PMJDY accounts have grown three-fold from 14.72 Crore in Mar’15 to 43.04 Crore as on 18-08-2021.  

The Yojana seems to have benefitted the women the most as 55% Jan-Dhan account holders are women and 67% Jan Dhan accounts are in rural and semi-urban areas.  

Also, out of total 43.04 crore PMJDY accounts, 36.86 crore (86%) are operative, while total RuPay cards that have been issued to PMJDY accountholders stand 31.23 Crore. 

Under PM Garib Kalyan Yojana, a total of Rs. 30,945 crore have been credited in accounts of women PMJDY account holders during Covid lockdown, while about 5.1 crore PMJDY accountholders receive direct benefit transfer (DBT) from the Government under various schemes 

6 pillars of Pradhan Mantri Jan-Dhan Yojana (PMJDY)  

*Universal access to banking services – Branch and BC 

*Basic savings bank accounts with overdraft facility of Rs. 10,000/- to every eligible adult 

*Financial Literacy Program– Promoting savings, use of ATMs, getting ready for credit, availing insurance and pensions, using basic mobile phones for banking 

*Creation of Credit Guarantee Fund – To provide banks some guarantee against defaults 

*Insurance – Accident cover up to Rs. 1,00,000 and life cover of Rs. 30,000 on account opened between 15 Aug 2014 to 31 January 2015 

*Pension scheme for Unorganized sector