Wednesday, January 19, 2022

PM Jan-Dhan Yojana | Financially empowering the citizens

From equality to empowerment, opportunities to justice, the government has done all for its citizens. It has enabled a dignified life for women and it has also provided wings to its citizen’s aspirations.

Financial Inclusion of Women – Need of the Hour

Observing that the women of India, especially in the poorer categories suffered from exclusion, the government took the initiative to ensure that this problem is rectified. Therefore, in the year 2014, Jan Dhan Yojana was launched and special care was taken to expand and make affordable access to financial services in a way that women are at the centre.

The success of the scheme can be attributed to the fact that 43 crore bank accounts have been opened under PM Jan Dhan Yojana, out of which 24 crores belong to women.

Pradhan Mantri Jan-Dhan Yojana – Mission for Financial Inclusion

Pradhan Mantri Jan-Dhan Yojana is a National Mission for financial inclusion to ensure access to financial services, basic savings & deposit accounts, remittance, credit, insurance and pension in an affordable manner. Under the scheme, a basic savings bank deposit (BSBD) account can be opened in any bank branch or Business Correspondent (Bank Mitra) outlet, by persons not having any other account.

Large-scale financial inclusion has opened up new avenues of social security for the poorest of the poor. It has also offered a variety of benefits.

Benefits of large-scale financial inclusion

Pradhan Mantri Jan-Dhan Yojana provides one basic savings bank account for unbanked persons. Moreover, there is no requirement to maintain any minimum balance in PMJDY accounts. Further, one can also earn interest on the deposit in Pradhan Mantri Jan-Dhan Yojana accounts.

The account holders of Jan-Dhan Yojana accounts receive Rupay Debit card where Accident Insurance Covers are also available and issued to the Pradhan Mantri Jan-Dhan Yojana account holders.

An overdraft facility up to Rs. 10,000 is also provided to eligible account holders and these accounts are also eligible for Direct Benefit Transfer, Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana, Atal Pension Yojana, Micro Units Development & Refinance Agency Bank scheme.


Under the Pradhan Mantri Jan-Dhan Yojana, the total number of beneficiaries at rural/semi-urban centre bank branches is 28.63 crore. The number Of Rural-Urban female beneficiaries stands at 23.80 crore while the total number of beneficiaries is 42.97 crore. Till now, the deposits that have been issued in Pradhan Mantri Jan-Dhan accounts is 1,47,120.09 crores. Also, the total number of Rupay Debit Cards that have been issued to beneficiaries is 31.21 crores.

Jan Dhan Yojana has been a true saviour for the citizens. It has clearly shown that by accumulating small pebbles one can raise a mountain.

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