After providing the universal access to the banking facilities which started with the basic saving bank accounts with an overdraft limit of Rs 5000, now the total deposits in the bank accounts opened under the Pradhan mantra Jan Dhan Scheme are now set the mark of Rs 1 lakh crore.
According to the report which has been released by the government the cumulative balance in 35.29 crore accounts under the scheme of the Modi government has now been reached INR 97665.66 crore as on the April 3rd of this year.
The scheme is Indian national Missions for the Financial Inclusion to make sure that Indian should have access to the financial services namely the credit, insurance, pension and remittance in an affordable manner. The scheme also further intends to bring under the purview of the banking of all the citizens of the country, no matter irrespective of their regional locations or financial status.
“The total deposits in Jan Dhan accounts stood at Rs 96,107.35.00 as on March 27 and Rs 95,382.14.00 in the week before. Rupay debit cards have been issued to a total of 27.89 crore Jan Dhan account holders”, the government data claimed.
“More than 1/2 of the Jan Dhan account holders are women, while nearly 59 percent accounts are from rural and semi-urban areas”, it added further.
The Pradhan Mantri Jhan Dhan Yojana also envisages channeling all the government benefits to the beneficiary accounts and pushing the Direct Benefit Transfer scheme of the central government of India.
Just after four years of its launch, the government has now also enhanced the accident insurance cover the scheme to INR 2 lakh from the earlier INR 1 lakh in 2018. The capacity for the overdraft limit in the Jan Dhan account was doubled to INR 10000 in the month of September 2018. The government has also changed its focus from offering bank to every household to every unbanked citizen.
With relevancy the technology, it’s been a key enabler of the Pradhan Mantri Jan Dhan Yojana. It was also efficiently used to address some of the challenges faced in the previous financial inclusion initiatives.
Recognizing the achievements which are made under the PMJDY, the certificate is also responding positively had claimed that most of the bank accounts opened in a week as a part of the financial campaign was 18096130 and was also achieved by India from the 23rd to 29th of August 2014.