Over 50% of the Jan Dhan account holders are women and the government, as part of Pradhan Mantri Garib Kalyan Yojana, remitted ₹1,500 per account in three equal monthly installments to support the poor during the COVID-19 crisis.

Over 50% of the Jan Dhan memoir holders are females and the authorities, as part of Pradhan Mantri Garib Kalyan Yojana, remitted ₹1,500 per memoir in three equal monthly installments to bolster the unlucky at some stage within the COVID-19 crisis.
  | Photo Credit ranking: THE HINDU


As per the latest establish, there are 40.05 crore beneficiaries of this method and deposits in Jan Dhan bank accounts are in design over ₹1.30 lakh crore.

More than 40 crore bank accounts had been opened below the authorities’s flagship financial inclusion drive Pradhan Mantri Jan Dhan Yojana (PMJDY), launched about six years ago by the Modi-authorities.

As per the latest establish, there are 40.05 crore beneficiaries of this method and deposits in Jan Dhan bank accounts are in design over ₹1.30 lakh crore.

“One more milestone accomplished below world’s ideal financial inclusion initiative, PMJDY: Total accounts opened below the strategy crosses 40 Cr. trace. Committed to grab financial inclusion to the final mile!,” Division of Monetary Companies and products stated in a tweet.

The success comes unbiased earlier than the sixth anniversary of PMJDY launch. The method became launched on August 28, 2014 with an draw to impress universal receive entry to to banking amenities to the of us within the country.

Accounts opened below PMJDY are Traditional Savings Monetary institution Deposit (BSBD) accounts with extra aspects of RuPay debit card and overdraft. There could be not a requirement of striking forward minimal steadiness in BSBD accounts.

In behold of the runaway success of the strategy, the authorities in 2018 enhanced the accident insurance coverage conceal to ₹2 lakh, from ₹1 lakh for new accounts opened after August 28, 2018.

Moreover, the overdraft restrict facility became furthermore doubled to ₹10,000.

The authorities furthermore shifted the kind out accounts from “every family” to “every unbanked grownup“.

Over 50% of the Jan Dhan memoir holders are females and the authorities, as part of Pradhan Mantri Garib Kalyan Yojana, remitted ₹1,500 per memoir in three equal monthly installments to bolster the unlucky at some stage within the COVID-19 crisis.

The authorities on March 26, 2020 announced an ex-gratia charge of ₹500 to be credited to females Jan Dhan memoir holders for 3 months starting from April.

The draw of PMJDY is to impress obvious receive entry to to varied financial products and companies fancy availability of frequent financial savings checking memoir, receive entry to to need essentially essentially based mostly credit, remittances facility, insurance coverage and pension to weaker sections and low income groups.

The PMJDY furthermore envisages channelling all authorities advantages to the beneficiary accounts and pushing the Enlighten Revenue Transfer (DBT) approach to the central authorities.