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Source: The post is based on the article “Number of Jan Dhan Accounts Cross 50 Crore” published in PIB on 19th August 2023
What is the News?
The total number of Jan Dhan accounts have crossed 50 crore as on 9th August 2023.
What is Pradhan Mantri Jan Dhan Yojana(PMJDY)?
National Mission on Financial Inclusion popularly known as Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched in 2014.It has completed almost 9 years.
It offers multiple advantages to account holders such as a bank account without requirement of minimum balance, free of cost RuPay debit cards with inbuilt accident insurance of Rs. 2 lakh and overdraft facility of up to Rs. 10,000.
Significance: The scheme has been successful in changing the financial landscape of the country and has brought near saturation in bank accounts for adults.
– The success of PMJDY also lies in the comprehensive nature of the scheme with an attempt to connect the last mile with the formal banking system through technology, collaboration and innovation.
What are the achievements of Pradhan Mantri Jan Dhan Yojana(PMJDY)?
As per the latest reports submitted by banks, the total number of Jan Dhan accounts have crossed 50 crore as on 9th August 2023.
Out of these accounts 56% accounts belong to women and 67% accounts have been opened in Rural / Semi-urban areas.
The deposits in these accounts are above Rs. 2.03 lakh crore and about 34 crore RuPay cards have been issued in these accounts free of cost.
The average balance in PMJDY accounts is Rs. 4,076 and more than 5.5 crore PMJDY accounts are receiving DBT benefits.
