PMJDY Scheme Success
Pradhan Mantri Jan Dhan Yojana (PMJDY) is a national financial inclusion scheme launched by the Government of India on 28th August 2014. The scheme was launched with the aim of providing financial services to the poor and unbanked sections of society in the country. The scheme is a flagship program of the Government of India and is being implemented by the Ministry of Finance.
The scheme has been designed to provide a bank account to every household in the country. The accounts opened under this scheme are zero-balance accounts, which means that there is no minimum balance requirement for these accounts. This is a significant step towards promoting financial inclusion in the country, as it makes banking services accessible to even the poorest sections of society.
The PMJDY scheme offers a range of financial services to its beneficiaries. These include access to basic banking services such as deposit accounts, remittance services, and overdraft facilities. The scheme also offers insurance and pension schemes to its beneficiaries. The government has also launched a RuPay debit card, which can be used by the beneficiaries to withdraw money from ATMs, make purchases at POS terminals, and make online transactions.
The scheme has been a huge success since its launch in 2014. According to the latest data, more than 43 crore bank accounts have been opened under the PMJDY scheme. These accounts have mobilized deposits worth more than Rs. 1.4 lakh crore. The scheme has also provided insurance coverage to more than 30 crore people and has provided pension benefits to more than 5 crore people.
The PMJDY scheme has had a significant impact on the lives of the poor and unbanked sections of society. The scheme has provided them with access to basic banking services, which has helped them to save money, access credit, and receive government benefits directly into their bank accounts. The scheme has also helped to promote financial literacy among the poor and unbanked sections of society.
The PMJDY scheme has been lauded by several international organizations for its success in promoting financial inclusion in India. The World Bank has praised the scheme for its efforts to increase financial access and promote financial literacy among the poor. The International Monetary Fund (IMF) has also commended the scheme for its efforts to increase financial inclusion in the country.
In conclusion, the Pradhan Mantri Jan Dhan Yojana is a landmark scheme that has helped to promote financial inclusion in India. The scheme has provided access to basic banking services to the poor and unbanked sections of society, which has helped to improve their economic and social well-being. The scheme has been a huge success and has been lauded by several international organizations. The government must continue to support and promote the scheme to ensure that every household in the country has access to basic financial services.
