News By/Courtesy: kriti kaushal | 31 Aug 2020 15:36pm IST

HIGHLIGHTS

  • Pradhan Mantri Jan Dhan Yojana
  • prime minister narendra modi
  • This article does not intend to hurt the sentiments of any individual, community, sect, or religion etcetera. This article is based purely on the author’s personal views and opinions in the exercise o

Pradhan Mantri Jan Dhan Yojana scheme has now become a basis of direct transfer of cash subsidy to the poor which was announced by a Prime Minister on our independence day, 15th August 2014. After the scheme has completed its glorious 6 years, the Prime minister tweeted that the Pradhan Mantri Jan Dhan Yojana was launched with an ambitious aim of banking the unbanked and this initiative has been a game-changer and is serving as the foundation for several poverty alleviation initiatives which is benefiting crores of people. The government is also planning to expand the scheme giving insurance coverage to Pradhan Mantri Jan Dhan Yojana account holders. The government also plans to promote a digital payment which includes Rupay debit card usage among the Pradhan Mantri Jan Dhan Yojana account holders as well as trying to provide access to the account holders of such scheme to microcredit and micro-investment facilities.

 

The Pradhan Mantri Jan Dhan Yojana account holder's in rural areas is 63.6 percent and 55.2 percent accounts belong to women. The Prime minister said that this scheme provides security for several families in the future. This scheme benefits the people of rural areas and women. The scheme helps in providing growth and promotes the financial stability of the country. It gives an opportunity to the poor people for bringing their savings into the formal financial system besides taking them to the fraud money lenders.

 

Pradhan Mantri Jan Dhan Yojana is the foundation stone of economic initiatives by the Modi government. All types of financial assistance which need to be provided to the public can only be possible if they have a bank account and this first step was laid down already by the scheme. It has been observed that in April and June a total of rupees 30705 crores have been created in the account of the women holder of the Pradhan Mantri Jan Dhan Yojana scheme and in August about 86.3 percent accounts were operative. The accounts which are registered under the Pradhan Mantri Jan Dhan Yojana have a deposit balance of rupees 1.31 lakh crore with an average deposit of rupees 3239 per account. This average deposit for an account has been increased to 2.5 times indicating an increase in the usage of accounts and also inculcating the saving habits among the holders of this scheme. The holders of this scheme can also take help from a “Jan Dhan Darshak “app which is a mobile application for locating various banking touchpoints like bank branches, ATMs, Bank Mitra and post office. In total there are more than 8 lakh banking touches in points.

 

This article does not intend to hurt the sentiments of any individual, community, sect, or religion, etcetera. This article is based purely on the author’s personal opinion and views in the exercise of the Fundamental Rights guaranteed under Article 19(1)(A) and other related laws being enforced in India for the time being.

Section Editor: Pushpit Singh | 01 Sep 2020 3:24am IST


Tags : india , BJP government

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