The Roaring Success of PM Jan-Dhan Yojana, Modi Government’s Flagship Scheme for Financial Inclusion!

Pradhan Mantri Jan-Dhan Yojana (PMJDY) was launched on August 28, 2014, with the aim of 'Banking the Unbanked

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In the first year alone, 179 million accounts were opened, making PMJDY the world's largest financial inclusion scheme

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PMJDY provides accessibility to various financial services such as basic savings accounts, credit, remittance facilities, insurance, micro-credit, and pension to excluded sections

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Over the course of nine years, PMJDY accounts have reached nearly 490 million (49 crore), with deposits exceeding Rs 2 lakh crore

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The average deposit per account has increased more than 2.9 times since August 2015

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PMJDY has expanded its coverage to over 67 percent of rural and semi-urban areas and has a remarkable 56 percent women account holders, showcasing gender sensitivity

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Approximately 80 million PMJDY account holders receive direct benefit transfers (DBT) from the government

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Public sector banks hold the majority of deposits (Rs 1.55 lakh crore), followed by Regional Rural Banks (RRBs) and private sector banks

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PMJDY has promoted digital transactions, with over 330 million RuPay debit cards issued, an increase in point of sale (PoS) machines, and the introduction of UPI

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The Modi government is taking steps to globalize RuPay and further enhance financial inclusion through PMJDY

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